David Rosenthal,Exxon Mobil Vice President of Investor Relations recently told the Wall Street Journal during a conference call, the company is reducing the number of rigs drilling for natural gas in the U.S. and switching some of them to oil-rich areas such as the Oklahoma’s Woodford Ardmore, North Dakota Bakken Shale, West Texas’ Permian

Basin. ExxonMobil owns XTO, which has a significant presence in Carter County.


 


The move may be in response to an Asociated Press report ExxonMobil’s net income dropped 11 percent on lower production and weaker profits from its chemicals and U.S. refining businesses in the first quarter. Oil production slipped 7.7 percent and natural gas production fell 3.4 percent.


David Rosenthal,Exxon Mobil Vice President of Investor Relations recently told the Wall Street Journal during a conference call, the company is reducing the number of rigs drilling for natural gas in the U.S. and switching some of them to oil-rich areas such as the Oklahoma’s Woodford Ardmore, North Dakota Bakken Shale, West Texas’ Permian
Basin. ExxonMobil owns XTO, which has a significant presence in Carter County.

 

The move may be in response to an Asociated Press report ExxonMobil’s net income dropped 11 percent on lower production and weaker profits from its chemicals and U.S. refining businesses in the first quarter. Oil production slipped 7.7 percent and natural gas production fell 3.4 percent.