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ExxonMobil

ExxonMobil reported a natural gas discovery in the Papua New Guinea North Highlands, 13 miles northwest of the Hides gas field. The Muruk-1 well encountered high-quality sandstone reservoirs similar to Hides and was in line with predrill expectations, the company said. Spudded on 2 November 2016, the well was drilled to a 10,630-ft depth and is being evaluated to determine the size of the discovery. Muruk-1 is located on petroleum prospecting license 402, which covers 126,000 acres. The company holds a 42.5% interest in the well, which is operated by Oil Search (37.5%). Barracuda Limited, a Santos subsidiary, has a 20% interest that is subject to regulatory approval.


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