[he's just kidding, he loves the Murdochians, even refers to the anonymous staffers as 'the electron stained wretches' -ed {aarrgghh, I HATE apologizing for you}]
From MarketBeat:
For some reason after "It's not a price play..." I read "...because homie don't play that game" musta been 'play'. Long day.Exxon’s announced purchase of domestic natural gas producer XTO Energy has many wondering whether the integrated oil giant sees the price of natural gas clawing its way out of the $2.50-to-$6 range it’s traded in this year. Natural gas rose 8.6 cents to $5.249 per 1,000 cubic feet, Monday. (Back in the summer of 2008, natural gas futures futures were floating above $13.)
In a conference call with analysts Exxon officials downplayed the notion that snapping up XTO represents a bet on price movements. Neil McMahon, an analyst with Sanford Bernstein, put this question to management: “You feel very comfortable, it seems, in this transaction, going out and buying a U.S. natural gas company, wherein the price of gas is at this level. Is it fair to say that you are getting more and more bullish about the gas environment going forward?”
“It’s not a price play, obviously because we never do that. It’s an efficiency play....MORE
Previously:
Natural Gas: "Exxon Mobil, XTO Deal: Analysts Weigh In" (XOM; XTO; XNG)
Behind Exxon Mobil’s Big Bet on Natural Gas (XTO; XOM; XNG)
