Industry Briefs

09/06/1999
CourtsA California Superior Courtruled in favor of Exxon Corp. in a 13-year-old civil suit against the firm, saying it does not owe California $750 million for allegedly pricing oil pumped from public lands at less than market value. The jury decided that the state had received sufficient payments during 1981-89 for oil taken from Wilmington field off Long Beach.ExplorationSipetrol Argentina SAand Repsol-YPF SA made a gas-condensate discovery on CAM 2/A South Block, about 12 km off Argentina on the continental shelf. The firms each hold a 50% interest in the block. The first of two test wells, CAM XE-1, was drilled to 1,725 m TD in 1,658-65 m of water and flowed 15 MMcfd of natural gas an...
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