Exploration & Production

Last of the big spenders leaves Polish shale

The prospects for the Polish shale industry look dire following the exit of ConocoPhillips this week, leaving its uncertain future in the hands of smaller independents The prospects for the Polish shale industry look dire following the exit of ConocoPhillips this week, leaving its uncertain future in the hands of smaller independents.
By Joshua Posaner 12 June 2015 0 16418
Chevron, ExxonMobil, Total and Marathon Oil have already opted to leave Poland’s unconventional sector.

Poland’s dreams of diversifying its energy supplies with domestic shale gas suffered another serious blow this week as ConocoPhillips announced its decision to halt exploration following a series of poor results.

Conoco’s subsidiary Lane Energy Poland developed seven wells across three concession areas from 2009, spending more than $200 million in the process. Conoco was the last remaining major international company exploring for shale in Poland, which was initially touted as Europe’s best hope for widespread development of unconventionals.

Chevron, ExxonMobil, Total and Marathon Oil have already...