ConocoPhillips, the third-biggest U.S. energy company, and Eastern European partner Lane Energy Poland plan to drill another exploratory well for natural gas in a Polish shale formation.
Lane Energy this year drilled two vertical wells at its license in northern Poland. The company is now testing the results and getting ready to drill a horizontal well in the same area in the second quarter of 2011 and results should be ready by the end of next year, Kamlesh Parmar, Country Manager at Lane Energy Poland, said today during a conference in Warsaw.
Shale drilling, where rock formations are horizontally drilled and fractured using water and chemicals under high pressure, is driving a surge in U.S. natural-gas output. It last year made the country the world’s largest gas producer, overtaking Russia, and drove prices lower.
Poland’s reserves of shale and tight gas may be as much as 3 trillion cubic meters, according to estimates by Advanced Resources International. That could potentially turn the country into a net exporter of gas and reduce Europe’s dependence on Russian supplies.
Shale gas in Poland has drawn interest from producers including Exxon Mobil Corp. and Chevron Corp. Talisman has three licenses to search for shale in three large blocks in the Baltic basin in northern Poland with San Leon Energy Plc.
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