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Exxon to Acquire XTO Energy in $31 Billion Stock Deal

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"Exxon Mobil Corp. announced a $31 billion all-stock deal to acquire XTO Energy Inc., boosting the oil giant's presence in the natural-gas industry amid low prices for the commodity," according to the Wall Street Journal. "XTO has been a major player in extracting natural gas from so-called unconventional places such as shale rock. Tapping gas trapped in and underneath such areas has been a boom for the industry, helping lead to ample U.S. supply and contributing to plunge in natural-gas prices that has begun to reverse the past several months."