Exxon drilling very close to home

World's largest publicly traded oil company has entered into venture with Dallas firm to drill natural gas wells not far from its headquarters, according to a report.


NEW YORK (CNNMoney.com) -- Exxon Mobil, the oil conglomerate whose operations span the globe, is now drilling for natural gas very close to home, according to a news report Monday.

The world's largest publicly traded oil company, by market capitalization, has begun drilling in the Barnett Shale gas field around Forth Worth, Texas, said The Wall Street Journal.

Exxon's global headquarters is located in Irving, Texas, about 30 miles from Fort Worth.

The move is a joint venture with Dallas company Harding Co., said the paper.

Barnett Shale is the fastest growing natural gas site in the country, but so far has been only utilized by smaller energy companies.

Shares of Exxon (down $0.18 to $73.43, Charts) rose 0.3 percent on the New York Stock Exchange Monday.

Exxon competitor Royal Dutch Shell (Charts) has also expressed interest in drilling in Barnett Shale, said the Journal.


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.