Thursday, September 17, 2026
WoodMac: Onshore and Offshore Oil Now have More in Common

Exxon Discovers Possible 5 – 8 Tcf of Natural Gas

After hitting a dry hole with its first well in the same block, ExxonMobil (stock ticker: XOM, $XOM) has announced that its Glaucus-1 well, located in Block 10 offshore Cyprus, encountered a gas-bearing reservoir of approximately 436 feet. The well went to 13,780 feet TD in 6,769 feet of water. Exxon said the in-place natural gas resource estimate of approximately