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Press release from Business Wire

ExxonMobil Awards Multi-Zone Stimulation Technology License to Weatherford

<ul> <li class='bwlistitemmargb'> Well perforating and fracturing combined into one efficient operation </li> <li class='bwlistitemmargb'> Award-winning technology in commercial use since 2005 </li> <li class='bwlistitemmargb'> Weatherford experienced in advanced stimulation technologies </li> </ul>

Monday, March 26, 2012

ExxonMobil Awards Multi-Zone Stimulation Technology License to Weatherford13:00 EDT Monday, March 26, 2012 HOUSTON (Business Wire) -- ExxonMobil Upstream Research Company (URC) announced today the licensing of its award-winning Multi-Zone Stimulation Technology (MZSTSM) well treatment process to a subsidiary of Weatherford International Ltd. The MZST process can be used to rapidly and reliably stimulate multiple zones in a single operation, yielding improved well economics. The MZST process can be particularly beneficial for hydraulic fracturing operations in tight gas, shale gas and coal bed methane wells that target multiple reservoir zones, thick reservoir sections or long reservoir intervals where multiple stimulation treatments are required. “The MZST process is a proven technology for rapidly completing wells in tight reservoirs such as shale gas,” said URC President Sara Ortwein. “As shale gas takes on growing significance, this technology will play a key role in improving the economics of developing this unconventional resource.” The MZST process will enable Weatherford to optimize its stimulation operations by combining the deployment of perforating and hydraulic fracturing equipment simultaneously in the wellbore to enable "single-trip" multi-zone stimulations. The technology dramatically increases the number of zones that can be fractured per day compared to traditional fracturing and stimulation operations. “We are always looking for proven technology to reduce completion costs without sacrificing safety or well integrity,” said Gary Flock, Weatherford vice president of pressure pumping. “The MZST process is an excellent fit with our existing portfolio of completion and well stimulation technologies and services and will help us add value to our customers in the unconventional gas business.” The MZST process was developed by ExxonMobil Upstream Research Company, an affiliate of Exxon Mobil Corporation. The technology was recognized with Platts Global Energy Award for Most Innovative Commercial Technology in 2005 and has been licensed to numerous service companies. About ExxonMobil Upstream Research Company ExxonMobil Upstream Research Company is the Upstream research affiliate of Exxon Mobil Corporation (NYSE:XOM), a leading global oil, natural gas, and petrochemicals company with operations in nearly 200 countries and territories worldwide. ExxonMobil Upstream Research Company is charged with developing an industry-leading array of proprietary technologies that support the Corporation's continued leadership position in exploration, development, production and gas commercialization. About Weatherford Weatherford is a Swiss-based, multi-national oilfield service company. It is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs over 60,000 people worldwide. MZST is a service mark of Exxon Mobil Corporation. CAUTIONARY STATEMENT: Statements in this release regarding future events or conditions are forward-looking statements. Actual future results, including the performance of new technology, could differ materially depending on geologic conditions, technical or operating factors, and other factors discussed under the heading "Factors Affecting Future Results" on the "Investors" section of our website at www.exxonmobil.com. ExxonMobilPatrick McGinn, 713-656-4376