Irving oil giant Exxon Mobil Corp. signed a deal with Newfield Exploration Co. to explore for natural gas in South Texas, continuing the trend of working with local companies to produce oil and gas close to home.
Newfield said in a press release Wednesday the companies will explore and drill on 87,000 acres in the Vicksburg Trend field, in Kenedy, Brooks and Hidalgo counties.
Exxon and Newfield will each own half of a joint venture to develop the field. Newfield said it expects to have an active drilling program during the next three years.
Newfield, a Houston independent oil and gas production company, has been active in South Texas for eight years.
Separately, Exxon is working with Harding Co. in North Texas to produce natural gas in the Barnett Shale field.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment