XTO President Sees Shale Gas Revolution Spreading

Exxon Mobil Corp.'s XTO Energy unit said Wednesday it expects the boom of unconventional natural gas production in the U.S. to spread around the world.

"It's clear that the shale gas revolution that has been going on in the U.S. will play out in several countries around the world," said Jack Williams, XTO president, speaking at an energy conference in Houston

ExxonMobil--which acquired natural gas producer XTO last year--is already operating in Canada, in Poland, Germany and Indonesia, where the company is identifying the regions that have the same type of geology as the U.S., Williams said.

"We think we are well positioned to identify the best global opportunities," he added.

Source: NASDAQ