Exxon makes first Vaca Muerta shale discovery

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM +0.6%) reports its first discovery from Argentina's Vaca Muerta shale formation.

XOM says it is testing the Bajo del Choique X-2 well to evaluate the discovery, but initial results produced an average flow rate of 770 bbl/day of oil.

XOM's Argentine subsidiary holds stakes in ~900K acres of unconventional shale oil and gas plays in the energy-rich province of Neuquén.