Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Chevrolet makes Stop/Start standard on base 4-cylinder in 2015 Impala; 5% improvement in city fuel economy | Main | Summit of transport ministers calls for more global co-operation in transport policy, international standards »

Print this post

ExxonMobil discovers oil and gas in Argentina shale well; expands presence in Permian shale in US

22 May 2014

ExxonMobil Exploration Argentina, jointly with Gas y Petróleo del Neuquén, has discovered oil and gas in an unconventional shale well in Neuquén Province of Argentina. Located in the liquids-rich area of the Vaca Muerta play, the Bajo del Choique X-2 well was drilled to a total measured depth of approximately 15,000 feet (4,570 meters). The horizontal leg of the well extends for 3,280 feet (1,000 meters).

The well was completed in the Vaca Muerta formation and flowed at an average rate of 770 barrels of oil a day on a 12/64 inch choke in its first flow test. Data analysis and additional studies are being conducted to fully evaluate this discovery. Appraisal wells will also need to be drilled before a commerciality decision can be made.

Not all shales are alike, so our first ExxonMobil-operated discovery in the Vaca Muerta play is a very positive sign that the shale in this area of Neuquén Province holds great promise as a liquids-rich unconventional resource for Argentina.

— Stephen M. Greenlee, president of ExxonMobil Exploration Company

Permian. Separately, ExxonMobil announced increasing its liquids-rich Wolfcamp acreage in the Permian shale basin in the US.

The company executed an agreement to add nearly 26,000 acres to its US oil and natural gas portfolio managed by subsidiary XTO Energy Inc., through a non-monetary exchange with LINN Energy, LLC. Virtually all of the acreage is located within the portion of the Midland Basin that is most prospective for horizontal Wolfcamp and Spraberry development. In exchange, LINN Energy will receive a portion of XTO’s interest in the Hugoton gas field in Kansas and Oklahoma.

This Midland Basin leasehold is in a prolific area where we expect rapid, profitable development of multiple horizons in the Wolfcamp and Spraberry formations. With this agreement and our previously announced transaction with Endeavor Energy Resources, we will increase our operated position in the Midland Basin Wolfcamp core to roughly 100,000 net acres and our total position in the basin to 300,000 net acres. This brings our leasehold position in the Permian Basin to over 1.5 million acres and in excess of 90,000 net barrels of oil-equivalent daily production.

—Randy Cleveland, president, XTO Energy

May 22, 2014 in Brief | Permalink | Comments (4) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef01a73dc93ca5970d

Listed below are links to weblogs that reference ExxonMobil discovers oil and gas in Argentina shale well; expands presence in Permian shale in US:

Comments

This looks like another job for the CIA. We need to destabilize their obviously socialist leaning left wing government. This all must be true if there is oil there.

@ Brotherkenny4 ,

CIA is already in every corner of the world.

Don't worry. Argentina will destabilize itself with no outside help other than the foreign loans they will skip out on.

Have you read a recent book by Thomas Piketty. He gives an interesting perspective of the potential negative effects of 'Capital ($$) in the 21st century'. The growing inequalities will be a much bigger problem than the CIA and USA can handle.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2013 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group