Exxon Brings US Shale Experience To Colombia

Law360, New York (November 13, 2012, 6:28 PM EST) -- Three weeks after passing on shale plays in Colombia's government-led leasing round, Exxon Mobil Corp. has bought a 70 percent stake in an unconventional oil and gas block in the country's interior and will bankroll new exploratory wells, according to a statement Monday.

Exxon's Colombian subsidiary will pay an undisclosed sum to a subsidiary of Canada's Sintana Energy Inc. for the stake in the 43,000-acre block. The land is about 90 miles south of another Exxon-owned block in the Middle Magdalena Basin, a crowded region where...
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