Exxon Mobil's Head Of Shale Oil Business Faces Sexual Assault Charge: Report

A top executive at Exxon Mobil Corporation XOM, responsible for its shale oil and gas sector, has been reportedly taken into custody on allegations of sexual assault.

This comes amid the company's ongoing merger discussions with competitor Pioneer Natural Resources Company PXD.

David Scott, Senior Vice President at Exxon, supervising its shale oil and gas business, was detained at La Quinta Inn & Suites hotel in Magnolia, Texas, as confirmed by the Montgomery Sheriff's Office, reported Reuters.

The report quoted Emily Mir, spokesperson, stated, "We are aware of the allegations and cannot comment on a personal matter; however, we can say that this individual will not continue work responsibilities as the investigation proceeds."

The 49-year-old Scott was arrested in his hotel room, situated close to Exxon's headquarters in Spring, Texas.

One of the two women he was in the room left and called police from the lobby, Reuters reported, citing a worker who saw a security video. 

Scott's professional trajectory at Exxon, spanning over 26 years, is marked by notable contributions to pivotal oil and gas ventures. He took the helm of Exxon's operations in the Permian Basin in 2020 and later ascended to his current position.

As a senior vice president, he would not necessarily be involved in merger talks, the report said, citing a person familiar with the matter.

The report said Scott is currently facing charges of second-degree felony assault and was held on a $30,000 bond. In Texas, convictions for such offenses can lead to imprisonment ranging from a minimum of two years to a maximum of twenty years.

Also Read: Exxon Mobil, Pioneer Natural Resources On Cusp Of Mega Deal, Shares React

Price Action: XOM shares are trading higher by 2.73% at $110.10 premarket on the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.