Geologic reality altered Cerro Negro development scheme

Reservoir studies, expendable stratigraphic wells, increased drilling capabilities, and close team work have changed and improved the scheme for producing extra-heavy oil in the Cerro Negro project in Venezuela's Orinoco oil belt.Project operator Operadora Cerro Negro is a strategic association among ExxonMobil Corp., 41.7%, Petroleos de Venezuela SA (PDVSA), 41.7 %, and Veba Oel, 16.6%. ExxonMobil is operator of the strategic association.Operadora Cerro Negro to date has drilled 121 horizontal development wells, with an average lateral length of 4,000 ft. Drilling performance improved dramatically throughout this program, as a result of better reservoir understanding and increased dr...

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