Marathon, Nexen to jointly explore shale in Poland
Nexen Inc. agreed to acquire a 40% working interest in 10 of Marathon Oil Corp.’s 11 concessions in Poland's Paleozoic shale gas play.
By OGJ editors
HOUSTON, Apr. 27 -- Nexen Inc. agreed to acquire a 40% working interest in 10 of Marathon Oil Corp.’s 11 concessions in Poland's Paleozoic shale gas play.
Marathon will remain operator of its concessions, which cover 2.3 million total acres. Poland has issued drilling licenses for 70 concessions to various oil companies.
During this year’s first half, Marathon plans to shoot 2D seismic surveys. The company tentatively plans to drill one or two wells in the fourth quarter and seven or eight wells during 2012.
Nexen and Marathon are targeting Lower Paleozoic shale at 8,000-13,000 ft. Currently, Nexen is developing shale gas in the Horn River region of British Columbia.
Annell R. Bay, Marathon's senior vice-president, worldwide exploration, said the partnership provides financial risk mitigation and combines the two firm’s extensive unconventional drilling and completion experience.