Has anyone heard anything about Exxon moving people into Butler county?
They have been in Butler County, they Own XTO Energy.
I know, but there hasn't been any real recent activity that I know of for a while. My understanding is that they started filling up hotels and complexes recently.
Two issues out there, Xto is just finishing up open project. Their people are telling land owners that they will not be drilling in Butler county for 2 years, the Hicks rd processing plant is at capacity. Second, maybe those people are here to sell the assets of XTO, that is the rumor, word is that Exxon is not happy with the performance of XTO. Some financial reporting said that Exxon had to write off $2 BILLION of expired XTO leases
I didn't see anything about it on their website, so who knows. I haven't heard anything other than what I said either. A lot of companies were hurt by prices, so letting leases go is probably common. They can always forgo the renewal bonus for those that have them and renegotiate for better terms for them later. That's interesting if they sell it though. I wonder who's interested or why?
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