it may bring some of the $4 gas targets back if exxon makes a move on exporting shale gas
HOUSTON - Exxon Mobil Corp. is studying the possibility of exporting natural gas from the U.S. Gulf Coast and Canada as new shale drilling has unlocked enough new natural-gas reserves to meet domestic demand for years to come and allow exports, Chief Executive Rex Tillerson said Wednesday.
Exports of natural gas will create jobs, increase tax revenues and help the U.S. trade balance, Tillerson said at the company's shareholder meeting in Dallas.
Exxon Mobil, the world's largest publicly traded oil company and the largest U.S. natural-gas producer, recently has said it was analyzing exports from domestically produced natural gas. Tillerson's remarks are the latest sign the company is following seriously the trend of smaller companies, such as Cheniere Energy Inc., which already have obtained necessary permits to export natural gas from the U.S.
Critics have said exports would raise the price of domestic natural gas and lead to increased use of hydraulic fracturing, a drilling method that environmentalists oppose because it pumps chemicals underground.
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