ExxonMobil ends shale gas exploration in Poland

[June 18, 2012]  WARSAW, Poland (AP) -- ExxonMobil says it is ending its exploration for shale gas in Poland after finding insufficient amounts of gas in two exploratory wells in the country's east.

The move is the latest blow for Polish hopes to find massive shale gas reserves that would help ease the country's dependence on Russian energy sources.

An Exxon statement made available Monday to The Associated Press said it was ending its search because "there have been no demonstrated sustained commercial hydrocarbon flow rates."

The company said nothing about the future of six other licenses it has in Poland.

Some two dozen global energy companies are exploring for shale gas across Poland. The country's energy hopes were also hit this year when a geological study estimated recoverable reserves were much less than originally hoped.

[Associated Press]

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