Printer Friendly

MOBIL ACQUIRES ARCO'S 50 PERCENT INTEREST IN PLATFORM HOLLY AND WILL OPEN AN OFFICE IN SANTA BARBARA

 SANTA BARBARA, Calif., April 8 /PRNewswire/ -- Mobil Exploration & Producing U.S. Inc. announced today it has acquired ARCO's interest in Platform Holly and related oil and gas facilities in Santa Barbara County. Mobil assumed operatorship on April 1.
 The California State Lands Commission had earlier approached Mobil to take over operatorship and evaluate its clearview proposal. Under this proposal, Platform Holly would be replaced by a full-field onshore development through extended-reach drilling technology.
 Approximately 40 people are currently employed at the various facilities and Mobil is in the process of extending job offers to ARCO employees. ARCO will continue to operate under contract to Mobil for a transition period of up to 60 days. Daily production from the field is 4,600 barrels of oil and 3.5 million cubic feet of natural gas.
 Mobil stated it will open an office in Santa Barbara with a team of approximately 14 employees. Jim Walmer, formerly producing manager of Mobil's business unit in Liberal, Kan., has been named producing manager for the company's operations in the Santa Barbara County area.
 "I am impressed with the quality and integrity of all the ARCO South Ellwood employees and hope many will join Mobil," said Walmer.
 "We are excited about being in the Santa Barbara area and the long-term development opportunities."
 -0- 4/8/93
 /CONTACT: Mike J. Kimmitt of Mobil, 214-951-3353/


CO: Mobil Exploration & Producing U.S. Inc.; ARCO ST: California IN: OIL RLE SU: TNM

JB-EH -- LA026 -- 4342 04/08/93 15:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 8, 1993
Words:251
Previous Article:METALCLAD CORP. FILES ANNUAL REPORT
Next Article:SKYWEST INC. DECLARES STOCK DIVIDEND
Topics:


Related Articles
ARCO SELECTS FLUOR DANIEL INC. AS PRIME CONTRACTOR TO FABRICATE MODULES FOR ALASKA GAS HANDLING PROJECT
ARCO TRANSFERS ALL ITS INTERESTS IN PLATFORM HOLLY, RELATED SANTA BARBARA COUNTY OIL AND GAS FACILITIES TO MOBIL
MOBIL TO PLUG AND ABANDON FERGUSON PIER WELLS; PERMIT FOR SANTA BARBARA PROJECT TO BE FILED EARLY IN 1994
LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron
ARCO, Mobil Reach Agreement on Exchange of Oil and Gas Properties in California and Gulf of Mexico
Vastar Expands Presence In Gulf In Three-Way Deal With Arco, Mobil.
PR Newswire Southwest Summary, Monday, November 2, to 1:00 EDT.
FTC BLOCKS MERGER OF OIL GIANTS BP AMOCO, ARCO.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters