ExxonMobil Doubles Marcellus Holdings

Link here.

As mentioned early on in this blog, I don't follow natural gas and don't have much to say about it (except as related to fracking, for the most part), but I have opined that the "big boys" are moving into natural gas in a big way perhaps seeing something the rest of us don't. Not along ago I posted almost an identical headline, "Icahn Doubles Stake in Chesapeake." And now ExxonMobil doubles its Marcellus holdings.

An ExxonMobil Corp. subsidiary’s $1.69 billion acquisition of two private companies with Marcellus shale assets deepens the major’s commitment to unconventional resource development.

The deal to acquire Phillips Resources Inc., Warrendale, Pa., and its natural gas exploration affiliate, TWP Inc., more than doubles ExxonMobil’s Marcellus shale position in the increasingly active northern Appalachian basin.

And this is why: EPA driving utilities away from coal. It's just a matter of time. See tab at top for more on natural gas.