Mobil Exploration News

Chet Morrison Contractors hired industry veteran Metin Gezer as Vice President of Land Construction Services. Gezer is one of several recent leadership additions who will provide support and infrastructure to foster the growth of the company’s construction services for both onshore and marine environments. Gezer brings over 25 years of planning and operations experience in the oil and gas industry, both domestically and internationally, and has a background in midstream, refining, petro-chemicals, pipelines, industrial gases and specialty chemicals.

Exxon Mobil Corp., the No. 1 oil company, said first-quarter earnings rose 51 percent, as it cashed in on strong crude oil and natural gas prices as well as better profits from refined fuels such as gasoline. Exxon Mobil posted record first-quarter income, excluding merger effects, of $5.05 billion, up from $3.35 billion in the year-earlier period. First-quarter revenues rose to $57.28 billion from $54.1 billion a year before. Earnings for the Irving, Texas-based oil company, which last year set a record for the world's highest corporate profits, surpassed most analysts' expectations, helping its stock rise nearly 2 percent on the New York Stock Exchange. Conoco, the No. 4 U.S. oil company, also reported profits that were better than most expected.

Commerce Secretary William M. Daley has decided to let stand an earlier Commerce Department ruling in support of the state of North Carolina's objections to exploratory drilling off the state's coast. Mobil Exploration & Producing U. S., Inc., requested the administrative records on their appeal of the North Carolina objections be reopened so they could include two studies the company felt would address issues relevant to the case. The rulings and appeals are connected with "consistency" provisions of the Coastal Zone Management Act (CZMA). Under the CZMA, all activities conducted or authorized by federal agencies within a participating state's coastal zone must be consistent with applicable state enforceable policies.

Mobil's wholly owned subsidiary, Mobil Exploration & Producing Australia Pty Ltd., has found significant new gas resources in the Carnarvon Basin, off the northwest coast of Western Australia. This follows two recent major discoveries in exploration permit WA-267-P, in which Mobil has a 25 percent interest. The Orthrus-1 well, the second well of a six-well exploration program in the permit, spudded on October 1 in 3,937 ft. (1,200 m) of water. It reached a depth of 11,712 ft. (3,570 m) and has intersected a total of 173 ft. (53 m) net gas pay. The Orthrus-1 well is located about 16 miles southwest of the Geryon-1 well, the first exploration well in WA-267-P. Geryon-1 was drilled to a total depth of 11,624 ft. (3,543 m).

Commerce Secretary William M. Daley has decided to let stand an earlier Commerce Department ruling in support of the state of North Carolina's objections to exploratory drilling off the state's coast. Mobil Exploration & Producing U. S., Inc., requested that the administrative records on their appeal of the North Carolina objections be reopened so they could include two studies the company felt would address issues relevant to the case. The rulings and appeals are connected with "consistency" provisions of the Coastal Zone Management Act. Under the CZMA, all activities conducted or authorized by federal agencies within a participating state's coastal zone must be consistent with applicable state enforceable policies.