XTO acqusition was No. 2 blunder behind aftermath of Valdez. Blunder that is on our present SOS' watch, and why it significantly now underperforms versus against CVX and others.
Add also an archaic approach to hiring and strictness that turns young talent off. Sadly, a dinosaur in decline.
Well, I have a different take.
Valdez was caused by a drunken captain and was pounced upon by Big Oil haters to denigrate the company.
Buying XTO was a strategic decision on unconventionals that failed due to incorrect assessment of pricing. If Exxon comes through with this new strategy successfully, it might just be what they need.
I like Exxon as it is the quintessential American oil company compared to CVX or the Europeans. I also worked for CVX.