Exxon Leases 19,400 Acres in Pennsylvania Marcellus Shale

From a Reuters news story on the Financial 24 website:

Exxon Mobil Corp, the world’s largest publicly traded company, has leases on 19,400 acres in the Marcellus Shale, a formation that is said to hold vast amounts of natural gas.

In September, Exxon bid $85.2 million for 18 blocks in the Marcellus, a large shale formation that runs through parts of New York, Pennsylvania, Ohio and West Virginia.

Exxon, based in Irving, Texas, was the high bidder on six Marcellus blocks, paying a total of $22.4 million for acreage in Tioga and Lycoming counties in Pennsylvania, company spokesman Patrick McGinn, said.

Read the full article: Exxon has 19,400 acres in the Marcellus shale