Not surprisingly, Exxon Mobil (XOM) still remains king of the mountain in the oil and gas market. The company continues to amaze by placing extreme efforts in the exploration and production of crude oil and natural gas. Exxon Mobil’s acquisition of Texas-based natural gas producer XTO Energy of Fort Worth back in 2010 made the giant look even larger in the natural gas arena. The company continues to seek the gas even as natural gas prices stutter toward a rebound, but not at any cost.
The company is large enough, smart enough, and experienced enough to know when to cut losses and when to continue exploration. Recently, Exxon Mobil ended its project in Poland, cutting off its exploration for shale gas after finding insufficient amounts of gas in two exploratory wells in the country’s east region. With not much to fear from rivals Chevron (CVX), Shell (RDS.A), BP (BP), and ConocoPhillips (COP), Exxon Mobil has the capital, the mobility, and an almost unlimited list of resources to help the company make new finds while capitalizing on existing plays. For these reasons alone, I believe the company to be one to buy now and then hold on for an exciting, profitable ride.
The company is always on the lookout for new partnerships and joint ventures to strengthen its search for new plays in both oil and gas. Exxon Mobil and Russian oil and gas company Rosneft have had its share of headlines based on a rocky relationship.To continue reading, click here.