ExxonMobil Announces Successful Muruk Sidetrack Production Test

Exxon Mobil Corporation (NYSE:XOM) today announced positive production well test results from the Muruk 1 sidetrack 3 well in the Papua New Guinea North Highlands located about 13 miles (21 kilometers) northwest of the Hides gas field.

The well successfully flowed gas at a rate of 16 million standard cubic feet per day. The well rate was constrained by test facilities which limited tests to short flow and build up periods. Hydrocarbon samples were collected during the production test.

“We are encouraged by these well test results and will integrate them into the ongoing resource evaluation work and potential appraisal program in 2018,” said Steve Greenlee, president of ExxonMobil Exploration Company. “The success at Muruk adds to a growing resource base in PNG, through focused exploration and ExxonMobil’s recent acquisition of InterOil. These high-quality resources position the PNG LNG project for a multiple-train expansion that will continue to provide a highly competitive cost of supply.”

The production test confirms Muruk as a potentially significant new discovery close to existing PNG LNG infrastructure.

Oil Search began drilling the Muruk 1 well on Nov. 2, 2016.

Petroleum prospecting license 402 covers 126,000 acres (510 square kilometers) in the Papua New Guinea Highlands. Interest owners are ExxonMobil (42.5 percent), Oil Search Limited (37.5 percent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent), with Oil Search as operator.

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CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans and resource recoveries could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of future commercial negotiations; and other factors. References to gas, condensate, resources, and similar terms mean quantities of oil, gas and condensate that are not yet classified as “proved reserves” under SEC definitions but that we believe may ultimately be produced.

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