Exxon

(Bloomberg) — Exxon Mobil Corp. seeks more than added reserves with its takeover of XTO Energy Inc. The biggest U.S. oil company also intends to prevent a repeat of exploration flops such as a Hungarian well that struck more water than gas.

Last month

XTO knows more than Exxon about tapping petroleum deposits that require unconventional drilling methods, said Gary Adams, a vice chairman at Deloitte LLP in Houston. XTO became the largest U.S. gas producer by exploiting so-called shale and tight-sand deposits while Exxon focused on offshore oil projects, he said.