Major oil companies are rapidly buying the small players in the Marcellus Shale gas play. Exxon Mobil Corporation just spent $1.7 billion to purchase Phillips Resources, Inc. and TWP Inc. This follows Chevron’s recent acquisition of Atlas Energy and other transactions. More on the FuelFix.com blog.
The topic was also on the agenda at Chevron’s annual shareholder meeting.
An article on Platts.com reports on shareholder resolutions at ExxonMobil, Chevron and Ultra Petroleum calling for those companies to disclose information about the environmental and financial risks of hydraulic fracturing in the production of natural gas.