Exxon CEO: Wouldn't Oppose Disclosing Frack-Fluid Contents

The head of Exxon Mobil Corp. (XOM) on Wednesday said the company wouldn't oppose disclosing the contents of the fluid used in a controversial drilling technique known as "fracking."

"We wouldn't object to any disclosure on the contents of what's in the frack fluid," said Exxon Chief Executive Rex Tillerson said at a hearing at a U.S. House Energy and Commerce Committee subcommittee.

Hydraulic fracturing involves pumping water, sand and other fluids into shale under pressure, creating fissures in the underground rock that allows the gas to escape. The practice has resulted in access to vast new supplies in states including Texas, Pennsylvania, and Louisiana. Critics fear that fracking could pollute drinking water if the drilling mixture escapes. The industry says the practice is safe.

Some lawmakers have proposed requiring companies to disclose the contents of the fluid used in fracking. Exxon has specified in its deal to buy XTO Energy Inc. (XTO) that it may terminate the deal if Congress makes the practice "commercially impracticable."

- By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; Siobhan.Hughes@dowjones.com

XTO (NYSE:XTO)
過去株価チャート
から 9 2024 まで 10 2024