Exxon Mobil Hopes To Increase Energy Production (XOM)

Exxon Mobil Corp. (NYSE: XOM) expects energy production to remain on an upward trajectory over the next few years.

According to a senior executive, company’s production is expected to rise by 3 percent to 4 Percent in 2010. Afterwards, the rate of increase is likely to remain between 2 percent to 3 percent per annum through 2013. The gains are likely to accrue from the new fields acquired by the company.

Exxon’s chief executive officer, Rex Tillerson, said that he expects the $41 billion XTO Energy deal to be finalized in the second- quarter of this year. Tillerson also said that he does not see natural gas as a viable transportation fuel.