Exxon Reports Disappointment in Polish Shales

Exxon Mobil Corp has reported that two shale gas wells drilled in Poland have proven to be not commercially viable.

Commenting on fourth quarter results, David Rosenthal, Exxon Vice President for Investor Relations, said that the two wells completed in the fourth quarter showed insufficient flow.

Exxon had been driling and undertaking hydraulic fracturing operations at it Krupe 1 and Siennica 1 wells.

Exxon Mobil owns six licenses in Poland, two of them in the Lublin basin in central Poland together with Total and four in the Podlasie basin with Hutton Energy.

Last year, Jack Williams, head of Exxon's unconventional unit, XTO Energy, had commented on early exploration drilling in Poland prior to hydraulic fracturing operations being undertaken.

"The log results look fine, they look encouraging," Williams said. "Until you get in there and frack and get some performance results, you don’t know" how much gas is present.