Shale OilI was looking at shale oil as being a longer term thing since Exxon and Shell are notoriously slow. However, this is what Justin Anderson wrote in his notes for his Colombian field trip.
I can't find anything official, but here is the quote:
CNE stated that it will own a major position in the naturally fractured shales on its VMM 2 block, given that Exxon is choosing to focus its attention on the deeper shales. Management suggested the potential of a 20‐well program where CNE has a majority stake drilling (unfracked) Hz wells that, according to the company, could each flow north of 1,000 bbl/d.