Exxon Mobil Chief Executive Rex Tillerson believes the acquisition of US unconventional natural gas giant XTO Energy could prove to be the third transformative transaction for the company in little more than a decade (EIF Dec.16,p3). Ultimately, it may alter the oil giant's look, asset mix and strategy as much as the 1998 merger with Mobil Oil and the subsequent partnership with state-owned Qatar Petroleum to create the world's largest liquefied natural gas (LNG) venture. The deal immediately made Exxon the largest natural gas producer in North America, with output of 3.9 billion cubic feet per day in the fourth quarter of 2010.
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