Mobil Exploration & Producing U.S. Inc. Announces Strategic Alliance for Onshore Gas Drilling

Mobil Exploration & Producing U.S. Inc. (MEPUS), an affiliate of Mobil Oil Corporation, has entered into a strategic exploitation and development drilling alliance with J.M. Huber Corporation and Quisto Ventures, L.C. The alliance aims to drill high-quality prospects in the Upper Wilcox Trend in western Duval County, South Texas, with a total acreage of over 27,000. The joint effort involves acquiring 3-D seismic as part of its development program, with MEPUS operating the venture and providing a strong technical database and proven success record within the region.

Key Takeaways:

• The alliance combines the regional strengths and expertise of MEPUS, J.M. Huber Corporation, and Quisto Ventures, L.C. to enhance the return on investment for each company.
• MEPUS provides a strong acreage position, while Huber brings a complementary acreage position and technical support.
• Quisto Ventures, L.C. will act as land operator and prospect generator for the alliance, bringing a strong technical team to the program.
• The South Texas Upper Wilcox Trend is believed to contain some of the most prolific onshore gas fields discovered in the U.S. in the past 10 years.
• The alliance will begin drilling an inventory of high-quality prospects in the first quarter of 1998.
• The companies involved in the alliance control over 27,000 acres in the Trend.

Statistics:

• The alliance controls over 27,000 acres in the Upper Wilcox Trend.
• The joint effort will acquire 3-D seismic as part of its development program.
• The alliance will begin drilling an inventory of high-quality prospects in the first quarter of 1998.

Sources:

• Mobil Exploration & Producing U.S. Inc.
• PR Newswire