The chiefs of ExxonMobil and XTO Energy said the methods they use to extract natural gas from shale rock are safe and efficient. Their statements came Wednesday during a House hearing to assess ExxonMobil's $40 billion takeover of XTO Energy, a leader in the use of hydraulic fracturing to produce gas from unconventional sources. ExxonMobil CEO Rex Tillerson said his company can opt out of the transaction should regulators or lawmakers ban the drilling practice or cause it to be "no longer commercial."

Related Summaries