Hess Reports Discovery At Longtail-3, Offshore Guyana

(Hess, 9.Jun.2021) — Hess Corporation (NYSE: HES) announced a discovery offshore Guyana at the Longtail-3 well on the Stabroek Block. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It was drilled in more than 6,100 feet (1,860 meters) of water by the Stena DrillMAX. The Longtail-1 discovery on the Stabroek Block was drilled in 2018, encountering approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir.

In other drilling activity, the Mako-2 appraisal well on the Stabroek Block confirmed the quality, thickness and areal extent of the reservoir. When integrated with the previously announced discovery at Uaru-2, the data supports a potential fifth floating production storage and offloading vessel (FPSO) in the area east of the Liza complex. The Koebi-1 exploration well on the Stabroek Block has shown evidence of non-commercial hydrocarbons.

RELATED STORY: ExxonMobil Announces New Discovery at Longtail-3 Offshore Guyana

CEO John Hess said: “The Longtail-3 discovery together with the previously announced discovery at Uaru-2 will add to the gross discovered recoverable resource estimate of approximately 9 billion barrels of oil equivalent and underpin future development opportunities for the Stabroek Block.”

The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

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