Scandoil  

ExxonMobil increases Permian Basin acreage, drives efficiency in Utica Holdings


Published Feb 5, 2014
ExxonMobil

Exxon Mobil Corporation announced enhancements to its U.S. oil and natural gas portfolio managed by subsidiary, XTO Energy Inc., through separate agreements in the Permian Basin in Texas and Utica shale in Ohio.

Through an agreement with Endeavor Energy Resources, L.P., XTO will fund development to gain substantial operating equity in approximately 34,000 gross acres in the prolific liquids-rich Wolfcamp formation in Midland and Upton counties. Endeavor will continue to operate shallow production while XTO will drill and operate horizontal wells in the deeper intervals.

The agreement increases XTO's holdings in the Permian Basin to just over 1.5 million net acres, enhancing the company's significant presence in one of the major U.S. growth areas for onshore oil production.

Tags: Exxon Mobil Corporation




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml