Monday, May 21st, 2012
Polish shale findings disappoint Exxon
American oil and gas giant Exxon Mobile said on Tuesday that two exploratory wells drilled in Poland in search of shale gas were not commercially viable.
“While we did find gas, it did not flow in commercial quantities in either of those two wells,” said vice president of investor relations David Rosenthal while discussing the firm's Q4 2011 results.
Exxon has six exploration licenses for shale gas wells in Poland, two together with firm Total in the Lublin region and four in the Podlasie region with Hutton Energy.
From Warsaw Business Journal by Izabela Depczyk
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Shale gas: In need of a strategy
Shale to lower gas prices?
Polish, foreign firms to step up shale gas investments
Orlen ratchets up shale gas exploration, investment
Government set to reveal plans for shale gas tax
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