Last foreign player pulls out of Polish shale gas

Written by on June 8, 2015 in Business - Comments Off on Last foreign player pulls out of Polish shale gas

US energy company ConocoPhillips has said it is stopping exploration for shale gas in Poland amid unsatisfactory results, the last in a string of major global oil companies to pull out of such projects as early hopes of a gas bonanza in the country have faded away.

The company said on June 5 2015 that its subsidiary Lane Energy Poland had invested around $220 million in Poland since 2009. It drilled seven wells over its three Western Baltic concessions. However it has not encountered production-level flows of the gas.

For the full story, please visit The Warsaw Voice.

(Archive photo: Marcellus Shale rig and gas well operation in Scott township, Lawrence county in Pennsylvania: wcn247/flickr.com)

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