ExxonMobil steps up Colombia shale search

摘要

Justin Jacobs, LONDON: US supermajor ExxonMobil is stepping up its shale hunt in Colombia through a farm-in deal with Latin America-focussed junior explorer Sintana Energy. ExxonMobil will acquire an operating 70% stake from Sintana in the unconventional play at Block VMM-37, which covers a 43,000 acre swathe of the Middle Magdalena. The unconventional play includes the prospective liquids-rich La Luna shale formation and the Simiti shale that lies below La Luna. Sintana will maintain a 100% interest in the conventional resources in the block that sit above the La Luna formation.