Ft. Lauderdale, FL 6/25/2010 08:25 PM GMT (TransWorldNews)
Exxon Mobil Corporation (NYSE: XOM) has completed its agreement with XTO Energy Inc., creating a new organization to focus on development and production of unconventional resources.
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Under the agreement, approved by XTO shareholders at a special meeting Friday, the new organization will continue to be called XTO Energy Inc. and maintain its primary office in Fort Worth, TX.
Jack Williams has been named the President of XTO Energy Inc. and Keith Hutton has been named the Executive VP of the new organization. Williams served as the former VP of ExxonMobil Development Company, and Hutton is the former CEO of XTO.
A conference call discussing the transaction will be made available through the Company’s website.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world
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