A couple of years ago, Oklahoma City-based Chesapeake Energy
But The Wall Street Journal recently noted that ExxonMobil
The natural gas world has become saturated with shale almost overnight. Indeed, just a few years ago we thought our gas supplies were dwindling and that we'd be forced to import gas in liquefied form from abroad. Now, however, we have a raft of shale plays, including the Barnett, the Haynesville, Arkansas' Fayetteville, and the Marcellus Shale, located primarily in Pennsylvania. As a result, we also have gas prices far lower than any of us might have predicted.
These days, everybody who is anybody among the independent producers is especially active in the Haynesville, including Petrohawk
But given its role as the largest publicly owned oil and gas company, Exxon is acting in a manner decidedly different from its peers. Not only has it found success outside the U.S. in the Horn River -- along with the likes of Calgary-based EnCana
As many Fools know, ExxonMobil is one of my favorite purveyors of oil and gas. Now, however, a company that has built its legacy as an oil producer is adding a new chapter to its story. It'll be an interesting one to keep up with.
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Fool contributor David Lee Smith doesn't own shares in any of the companies mentioned above. He does welcome your questions or comments. Chesapeake Energy is a Motley Fool Inside Value recommendation. The Fool owns shares of Chesapeake Energy. Try any of our Foolish newsletters today, free for 30 days. The Fool's disclosure policy contains absolutely no gas.