ExxonMobil to Extract Additional Oil from West Texas Field
HOUSTON--(BUSINESS WIRE)-- ExxonMobil Production Company announced today that drilling and construction have started on an enhanced oil recovery project at the Means Field in Andrews County, Texas. The first phase of the project has the potential to recover as much as five million barrels of additional oil, an amount equal to the annual energy needs of about 170,000 Texas households.
Drilling rig on location at ExxonMobil's Means Field, West Texas. The wells will inject carbon dioxide in order to recover five million barrels of additional oil that until recently was technically and economically challenging to produce. (Photo: Business Wire)
ExxonMobil has more than two decades of experience with carbon dioxide injection for enhanced oil recovery at the Means Field. The new project will apply technology to produce oil that until recently was technically and economically challenging to develop. Carbon dioxide injection is expected to begin before year end 2011. This first phase could lead to future development phases, which could significantly increase oil recovery from the field.
"ExxonMobil's investment in the field is part of an ongoing effort to find, develop and produce more domestic supplies of oil and gas to meet the country's growing energy needs," said Lyndal Trout, the company's senior field superintendent for western Texas.
ExxonMobil discovered the Means Field in the early 1930s. Since then, the company has produced more than 300 million barrels of oil from the field.
Over the past three years ExxonMobil's capital expenditures in Texas has exceeded $790 million. These investments help create jobs and contribute to economic growth across the region. They also help maintain Texas' position as the leading U.S. oil and natural gas producing state.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com.
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Source: Exxon Mobil Corporation
Released May 10, 2011