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Saturday, November 5, 2011

Exxon Mobil (XOM) - Utica Shale


November 5, 2011 - Exxon Mobile (XOM) recently disclosed that they are involved in the Utica Shale. The Utica Shale, located mainly in Ohio, is an oil & natural gas field that has been moving up on the Top 5 shale plays. Exxon Mobile (XOM) said this about their Utica Shale acreage.

"Exxon Mobil is also actively exploring several other early stage liquids-rich play in the United States, including the Utica Shale play in eastern Ohio and western Pennsylvania. Our position in the Utica stems from our recently completed acquisition of the Phillips companies and represents incremental upside to the Phillips acquisition, which was focused on the Marcellus. The Phillips acquisition included 45,000 net acres prospective for the Utica in Ohio, and we have increased our position now to over 75,000 net acres. We anticipate drilling our first Utica well in early 2012."

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Posted by Tim at 10:04 AM
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