XTO to Take Over The Kelsey and A Bunch of Other South Texas XOMan Properties

Big announcement: XTO Energy (a subsidiary of XOM) is going to take over all of the Exxon's South Texas operations. This includes the Kelsey, Marshall, King Ranch, Mariposa, etc, etc, etc. Everything from Corpus to the Rio Grande River. I think that's good news. Anything is better than letting stuff rot, leak, and go to waste. I am totally for this plan. I don't know if it will work out well - but in theory it is good. The problem with Exxon is they are just a morass of bureaucrats and lawyers who don't do anything. And, XTO, supposedly, has maintained their kind of smaller atmosphere but has Exxon's clout and cash to do something. It's a good concept. Don't know if it will actually work. Will just have to wait and see.

South Texas is so poor and has so much mineral wealth that was not developed because the hey day was pre-1970s when the technology to go deep didn't exist. It would be great for the local economy and people if a company developed things. There will be less crime in a prosperous area because people can get legitimate jobs.