Exxon has suffered too much for flawed XTO deal

By Christopher Swann
July 29, 2010

Disgruntled investors have wiped more than $40 billion off the value of Exxon Mobil since its splurge on U.S. gas giant XTO Energy -- almost exactly the firm's price tag. With Congress ditching carbon emissions rules, clean-burning gas looks like a bad bet. Yet to assume that XTO has zero value seems wrongheaded.

Exxon’s carbon tax hedge is way out of the money

By Christopher Swann
July 8, 2010

Exxon Mobil's $31 billion hedge is way out of the money. Gas prices have tumbled since the U.S. oil giant agreed to pay that amount for the gas producer XTO. That doesn't make the deal a bust. A carbon tax might make the XTO purchase look smart -- but Exxon benefits for as long as Congress twiddles its thumbs.

Exxon should succeed where Conoco blundered

By Christopher Swann
December 18, 2009

When ConocoPhillips bet big on gas with the 2005 purchase of Burlington Resources for $36 billion, it was widely expected to trigger a spree of copycat deals. Instead the deal became a cautionary tale in the oil patch.