Bloomberg: Exxon’s Failure in Poland Shale-Gas Wells May Lengthen Gazprom’s Shadow

Exxon Mobil Corp.’s failed shale-gas wells in Poland may hobble the nation’s effort to become one of the world’s major energy sources and dismantle Russian dominance of Eastern European gas markets.

Exxon, the world’s largest energy company, yesterday said two exploratory wells drilled in a Polish shale formation at the end of 2011 weren’t commercially viable. The gas discovered in the wells, Exxon’s first in Poland, failed to flow in sufficient quantities to justify bringing them into production, David Rosenthal, vice president for investor relations, said during a conference call with analysts and investors.  MORE