ExxonMobil Announces Positive Muruk-1 Sidetrack Well Results
May 15 2017 - 10:00AM
Business Wire
Exxon Mobil Corporation (NYSE:XOM) today announced positive
results on the Muruk-1 sidetrack well in the Papua New Guinea North
Highlands, 13 miles (21 kilometers) northwest of the Hides gas
field.
The Muruk-1 sidetrack well encountered high-quality sandstone
reservoirs southwest of the Muruk-1 natural gas discovery announced
in late 2016. The sidetrack well was safely drilled to 13,550 feet
(4,130 meters).
“This important discovery confirms the extent of the Muruk area
and further establishes Muruk as a potentially significant new
discovery with the same high-quality sandstone reservoirs as the
Hides field that underpins the PNG LNG project,” said Steve
Greenlee, president of ExxonMobil Exploration Company.
ExxonMobil has a long and successful history of exploring,
developing and commercializing assets in PNG.
“The diversity of our onshore and offshore portfolio
demonstrates the strength of ExxonMobil’s long-term investment
approach and the opportunities that exist to grow our business in
Papua New Guinea,” said Greenlee.
Oil Search began drilling the Muruk-1 well on Nov. 2, 2016.
Petroleum prospecting license 402 covers 126,000 acres (510
square kilometers) in the Papua New Guinea Highlands.
Interest owners are ExxonMobil (42.5 percent), Oil Search
Limited (37.5 percent) and Barracuda Limited, a subsidiary of
Santos Limited (20 percent, subject to regulatory approval), with
Oil Search as operator.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is the largest refiner and marketer of
petroleum products, and its chemical company is one of the largest
in the world. For more information, visit www.exxonmobil.com or
follow us on Twitter www.twitter.com/exxonmobil.
CAUTIONARY STATEMENT: Statements of future events or conditions
in this release are forward-looking statements. Actual future
results, including project plans and schedules and resource
recoveries could differ materially due to changes in market
conditions affecting the oil and gas industry or long-term oil and
gas price levels; political or regulatory developments; reservoir
performance; the outcome of future exploration and development
efforts; technical or operating factors; the outcome of future
commercial negotiations; and other factors. References to
“reservoirs” mean quantities of oil and gas that are not yet
classified as “proved reserves” under SEC definitions but that we
believe may ultimately be produced.
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