Shale fail for ExxonMobil in Poland

Not commercial: ExxonMobil in Poland shale disappointment

Reuters/Scanpix

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By Luke Johnson & news wires

 01 February 2012 20:02 GMT

US giant ExxonMobil said this week that two of its shale wells in Poland were not commercially viable, raising questions about the unconventional resource’s future in that country.



David Rosenthal, ExxonMobil’s vice president of investor relations, said in an earnings call with analysts on Tuesday that the company had completed two shale wells in Poland in the fourth quarter.

“While we did find gas, it did not flow in commercial quantities in either of those two wells,” Rosenthal said. “We'll be analysing that, evaluating the various characteristics of the shale there and working on our go-forward plans.”

ExxonMobil owns a 51% interest in two leases in the Lublin basin in central Poland, with France’s Total holding the remainder. The…

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