Shale Gas Development is an American Success Story, says XTO President

  Shale Gas Development is an American Success Story, says XTO President

    Industry supports over one million U.S. jobs and generates billions in
                             government revenues

Business Wire

PHILADELPHIA -- September 20, 2012

Shale gas development, an activity that scarcely existed 10 years ago, is a
U.S. success story that supports more than one million American jobs and
generates billions of dollars in government revenues, Jack Williams, president
of XTO Energy, a subsidiary of Exxon Mobil Corporation (NYSE:XOM), said today.

In a speech at the Shale Gas Insight Conference in Philadelphia, PA, Williams
said that as a result of American innovation, the country has emerged as the
clear global leader in shale development as the demand for natural gas
continues to grow.

“Wherever we look, we see energy development creating multiplier effects that
ripple through the U.S. economy,” Williams said. “The World Economic Forum
estimated that oil and gas production accounted for nine percent of all new
U.S. jobs last year. A significant part of that growth is coming from shale
development.”

In Pennsylvania, Marcellus Shale development generated $11 billion in
value-added economic impact in 2010, while supporting 140,000 jobs and
contributing $1 billion in state and local tax revenue, he said. Nationwide,
shale gas development is expected to support 1.5 million jobs, and contribute
nearly $200 billion to GDP by 2015. Those benefits are expected to double by
2035.

Industry, government – and a willing public – must take the right steps to
ensure the United States remains a leader in shale development, so that U.S.
citizens and communities can enjoy the full economic benefits of this energy
advancement, Williams said.

He said the industry must work to improve public confidence in shale
development through transparency and education efforts to increase knowledge
of industry standards and practices that protect water and air quality.

ExxonMobil has been active in communication and transparency efforts, which
include disclosing hydraulic fracturing fluids components, development and
publication of operational guidelines to protect air quality and water
management and support for a university-based training initiative for state
regulators and policymakers.

Policymakers can do their part to support the industry’s growth and
development by maintaining a stable, transparent and fact-based regulatory
environment that encourages investment, he said.

Williams said that because of the size of the shale gas resource, the United
States will be able to export liquefied natural gas (LNG), which will increase
domestic benefits.

“Just as we do with exports of grain, cars and other American products,
exporting LNG can create economic value that would not have existed
otherwise,” Williams said. “LNG exports could encourage increased domestic gas
production, which would, in turn, support the creation of more American jobs.”

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company,
uses technology and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the largest
refiner and marketer of petroleum products, and its chemical company is one of
the largest in the world. Follow ExxonMobil on Twitter at
www.twitter.com/exxonmobil.

About XTO Energy

XTO Energy, a subsidiary of ExxonMobil, is a leading natural gas and oil
producer in the U.S. with expertise in developing tight gas, shale gas, coal
bed methane and unconventional oil resources. XTO has operations in all major
U.S. producing regions. XTO has a reputation for efficient resource
development, environmental stewardship and community involvement.

Contact:

ExxonMobil
Media Relations, 972-444-1107
 
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