Comment on Exxon Mobil and a Houston energy company make a big land swap

Exxon Mobil and a Houston energy company make a big land swap

Exxon Mobil Corp. (NYSE: XOM) has a deal with Houston-based Linn Energy LLC (Nasdaq: LINE) for another huge land swap. Irving-based Exxon Mobil will receive 17,800 net acres in the Texas Permian Basin to be managed by its subsidiary, Fort Worth-based XTO Energy Inc. Linn, in turn, will get interest in about 500 net acres of Exxon Mobil’s South Belridge Field, which is near Bakersfield, California. Exxon Mobil is getting acreage in the Wolfcamp and Spraberry shales of the Permian's Midland Basin.…

 

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