U.S. supermajor ExxonMobil Corp. is planning to invest “hundreds of millions of euros” in German unconventional prospects, according to a report by Germany’s Handelsblatt newspaper.
The company confirmed the rumor on Jan. 31 when Gernot Kalkoffen, the chairman of ExxonMobil – Central Europe, made a statement to the publication noting that the company would invest greatly in the project’s exploration phase.
According to the report, ExxonMobil is particularly interested in the German states of Lower Saxony and North Rhine Westphalia for the project.
A U.S. spokesperson for ExxonMobil declined to provide any further details on the financial investment.
Exxon says it believes the region could hold huge amounts of gas to drill, according to the publication.
Recommended Reading
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.
Rhino Taps Halliburton for Namibia Well Work
2024-04-24 - Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.