HOUSTON — Exxon Mobil said Thursday that it completed the acquisition of Boulder-based oil- and-gas company Ellora Energy in the third quarter, a transaction aimed at boosting the oil giant’s position in the Haynesville shales in Texas and Louisiana.
This acquisition increased Exxon’s position in the area by 46,000 acres and added production and pipeline capacity, said David Rosenthal, Exxon Mobil’s vice president of investors relations, who was speaking during a conference call.
Ellora Energy announced in July that it sold the company for $695 million in cash to an undisclosed buyer.
Exxon, the largest U.S. oil company by market value, said the purchase was part of a series of steps it has taken to increase the efficiency of its June acquisition of natural-gas producer XTO Energy, which sharply boosted Exxon shale properties in the continental U.S., including the Haynesville shale. Dow Jones Newswires
