ConocoPhillips ceases shale gas exploration in Poland

Lane Energy Poland, a subsidiary of US energy company ConocoPhillips, said that it would stop shale gas exploration in Poland. The company had three licenses to carry out exploratory drilling in Pomorskie voivodeship. "We understand the disappointment caused by this decision," said Tim Wallace, the company's country manager to Poland. He said that ConocoPhillips has invested some $220 million for shale gas exploration in Poland since 2009. "Unfortunately, the company didn't find gas deposits that could be commercially explored," Wallace added. Chevron, Exxon Mobile, Total and Marathon Oil stopped shale gas exploration in Poland earlier. There were 53 licenses for shale gas exploration in Poland issued as of January 1, 2015.