No Gas for Exxon and Oil Search at Papua New Guinea Well

Fox Business reported that the Trapia-1 liquid natural gas well in Papua New Guinea, part of a joint venture between ExxonMobil Corp. (NYSE:XOM) and Oil Search Ltd. (ASX:OSH), has reached its total depth, but did not intersect any prospective reservoir intervals.

As quoted in the market news:

Hopes that the partners will find enough natural gas to expand the project two three LNG production units from the two currently under construction were recently buoyed by a large gas discovery at the P’nyang prospect. The venture is also exploring for more gas at the Hides prospect and analysts remain optimistic that a third production unit, or train, will eventually be constructed.

Click here to read the full Fox Business report.