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Eni announces successful results of unconventional oil exploration in West Texas

San Donato Milanese (Milan), 27 August 2014 – Eni announces the successful initial results of its first horizontal well (Stallings 1H) under the agreement with Quicksilver Resources, aiming at  jointly evaluating, exploring and developing unconventional oil reservoirs in the southern portion of the Delaware Basin,  located in the Pecos County, West Texas some 700 km north west of Houston.

The well, which was completed in a 2,900 feet  horizontal section at a vertical depth of 7,400 feet, is currently producing on a restricted choke at a rate of 750 barrels of oil equivalent per day, of which 90% is oil.

The Stallings 1H production rate is on the high side of those recorded in this sector of the Delaware Basin and it represents a promising start of the activity that Eni is undertaking in the unconventional oil plays in the US. Production start up from the well is expected at the beginning of September.

The Eni-Quicksilver joint venture is currently drilling their second exploration well (Mitchell 1H), located 4.5 miles north of Stallings 1H targeting the same reservoir.

The exploration agreement between Eni and Quicksilver covers an area of approximately 52,500 acres situated in Pecos County in West Texas, in the southern part of the prolific Delaware Basin. Quicksilver (operator) and Eni own 50% each of working interest in the project.

Eni is playing a very active role in the project providing highly qualified expertise and state of the art and proprietary technological support to the operator.

In the US, Eni owns interests in 200 leases in the Gulf of Mexico and 530 leases in unconventional plays (shale gas and shale oil) onshore Texas. In addition, Eni owns interests in 100 leases in the North Slope of Alaska, which include 100% of Nikaitchuq and 30% of the Oooguruk oil fields.

 Eni's current production in the US is in excess of 100,000 barrels of oil equivalent per day, 75% of which is operated.

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