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Mont. oil output drops but high prices soften blow
19 hours ago ago from U.S. News
Mont. oil output drops but high prices soften blow BILLINGS, Mont. (AP) -- Oil production in Montana is off by about 30 percent from its high three years ago, but state officials said rebounding energy prices have staved off a sharp hit to the state's budget. That's a rare bit of good news - or at least not-so-bad news - for state revenue officials tracking a steady decline in corporate and income taxes caused by the recession. ...
Related contentExxon Mobil to purchase XTO Energy
14 hours ago ago from BloggingStocks
Natural gas has been the "black sheep" of the energy sector. Natural gas is trading at historic lows . Why is this purchase noteworthy? Exxon Mobil ( XOM ) traditionally has been a pure oil company. Now Exxon makes a bold move into the natural gas segment by buying one of the largest US natural gas producers, XTO Energy ( XTO ). Jim Halloran of Financial America Securities said: "the deal validates the notion that the natural gas market ...
Related contentExxon to buy XTO in $41 billion deal
21 hours ago ago from CNN Money
These five ultra-efficient vehicles have earned the Insurance Institute for Highway Safety's Top Safety Pick Award. NEW YORK (CNNMoney.com) -- Exxon Mobil said Monday it will buy natural gas producer XTO Energy Inc. for $41 billion in an stock and debt transaction. The world's largest publicly traded oil company agreed to issue 0.7098 common stock share for each common share of XTO ( XTO , Fortune 500 ), ...
Related contentXTO Energy and Exxon Mobil: The Natural Gas Price Question - MarketBeat - WSJ
15 hours ago ago from Wall Street Journal
By Matt Phillips Exxon's announced purchase of domestic natural gas producer XTO Energy has many wondering whether the integrated oil giant sees the price of natural gas clawing its way out of the $2.50-to-$6 range it's traded in this year. Natural gas rose 8.6 cents to $5.249 per 1,000 cubic feet, Monday. (Back in the summer of 2008, natural gas futures futures were floating above $13.) In a conference call with analysts Exxon officials ...
Related contentCramer on BloggingStocks: Exxon just changed the energy game
21 hours ago ago from BloggingStocks
From TheStreet.com Network Exxon Mobil to Buy XTO Energy for $41B Crude Oil Futures Extend Losing Streak TheStreet.com's Jim Cramer says its buy of XTO is a clear signal that natural gas works. Do you think Exxon ( XOM ) ( Cramer's Take ) is going to buy XTO ( XTO ) ( Cramer's Take ) -- the best of the best -- if it doesn't see the writing on the wall that it needs to have natural gas as part of its filling station repertoire? Do you ...
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