|
|
Article: Newfield and Exxon sign South Texas deal.(Newfield Exploration Co.)(Exxon Mobil Corp.)
- Article from:
- The Oil Daily
- Article date:
- May 8, 2008
- Author:
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Newfield Exploration has signed an agreement with Exxon Mobil to jointly explore and develop approximately 87,000 gross acres in South Texas. The deal covers acreage in Kenedy, Brooks and Hidalgo counties.
The Three-Year Drilling And Development Program Will Target The Vicksburg Trend, A Prolific Tight Natural Gas Sands Formation That Underlies Much Of The Area.
The Houston-based independent said the properties complement its existing activities in South Texas. Expenditure associated with activity on the Exxon acreage in 2008 was already included in the company's capital budget for the year.
"We are excited about signing the agreement with Exxon ...