HOUSTON, TEXAS (Editors at Energy Analytics Institute, 7.Mar.2025) â LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 7 Mar. 2025. âArgentina: The divestment of assets by IOCs in Argentina, such as those announced by Norway’s Equinor and the US’ ExxonMobil Corporation, points to […]
Tag: Exxon
Exxon Applies for Longtail Environmental Permits: Reuters
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 13.Feb.2025) â Spring, Texas-based ExxonMobil Corporation has reportedly applied for environmental permits related to its Longtail development located offshore Guyana in the Stabroek Block, according to Reuters. The consortium is eying another well in Stabroek, Reuters reported 13 Feb. 2025, citing Exxon […]
Exxon Selects Baker Hughes for Chemicals Services for Uaru and Whiptail Developments
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 3.Feb.2025) â Baker Hughes revealed a significant award from ExxonMobil Guyana to provide specialty chemicals and related services for its Uaru and Whiptail offshore greenfield developments in Guyana’s prolific Stabroek Block. The multi-year contract includes all topsides, subsea, water injection and utility […]
ExxonMobil Eyes Yellowtail Development Startup Offshore Guyana in 3Q:25
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) â ExxonMobil Corporation expects the startup of the 250,000 barrel per day (b/d) Yellowtail development in the Stabroek Block to occur sometime in the third-quarter 2025 (3Q:25), according to comments from the company’s chairman and CEO Darren W. Woods. “With respect to […]
Exxon Eyes Production of 5.4 MMboe/d in 2030, Aided by Permian and Guyana Volumes
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 31.Jan.2025) â ExxonMobil Corporation has an eye on boosting upstream production to around 5.4 million barrels per day of oil equivalents (MMboe/d) in 2030 compared to 4.3 MMboe/d in 2024. This, as production was 4.6 MMboe/d in the fourth-quarter 2024 (4Q:24), up […]
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Exxon Mobil Reports 4Q:24 Earnings of $7.6bn [PDF Download]
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) â Exxon Mobil Corporation announced fourth-quarter 2024 earnings of $7.6bn, or $1.72 per share assuming dilution. Cash flow from operating activities was $12.2bn and free cash flow (FCF) was $8bn. Capital and exploration expenditures, and cash capital expenditures were both $7.5bn in […]
US Upstream M&A Deals Reach $105bn in 2024
BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 29.Jan.2025) â Enverus subsidiary Enverus IntelligenceÂź Research (EIR), said upstream merger & acquisition (M&A) deals closed in the US reached a value of $105bn in 2024, the third highest total tracked by Enverus. This value only trailed a record-setting $192bn in 2023. […]
Chevron Boasts First Oil at Future Growth Project in Kazakhstan
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 23.Jan.2025) â Chevron Corporation‘s 50% owned affiliate Tengizchevroil LLP (TCO) started oil production at its Future Growth Project (FGP) located at the Tengiz oil field in Kazakhstan. FGP is the third processing plant in operation at the Tengiz oil field, Chevron said 23 […]
FACT SHEET: $30.25/bbl Breakeven for First 4 Stabroek Developments Offshore Guyana
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 9.Jan.2025) â Not even crude oil prices down to $35/bbl will impact the ability of 4 projects offshore Guyana to produce positive returns. To be more exact, the first 4 projects in the prolific Stabroek Block being developed by operator ExxonMobil Corporation, […]
SBM Offshore Completes $1.5bn FPSO Jaguar Financing
(Piero Stewart, Energy Analytics Institute, 21.Nov.2024) â SBM Offshore completed the project financing of the floating production storage and offloading (FPSO) vessel Jaguar for a price of $1.5bn. The project financing was fully secured by a consortium of 16 international financial institutions, SBM said 21 Nov. 2024 in an official […]
Hess Says its Net Production in Guyana in the 3Q:24 Rose 57% YOY
(Energy Analytics Institute, 30.Oct.2024) â New York City-based Hess Corporation said its net production in the prolific Stabroek Block offshore Guyana was 170,000 b/d in the third-quarter 2024 (3Q:24), up 57% year-over-year compared to 108,000 b/d in the 3Q:23. Higher production in the 3Q:24 was primarily due to the start-up […]
EAIâs NRGBriefs: Sep. 2024
(Energy Analytics Institute, 30.Sep.2024) â Energy briefs as well as others related to finance and projects during Sep. 2024 including Petrobras inking separate MOUs with its Argentine and Surinamese counterparts YPF and Staatsolie; TechnipFMC being awarded two subsea contracts by Petrobras; CNOOC Limited saying the Shenhai-1 Phase II Natural Gas Development […]
Exxon Director Joins Elliott Seeking to Acquire Citgo Petroleum
(Reuters, 28.Sep.2024) â Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum. Citgo and Exxon are rivals in the motor fuels and lubrications business. Exxon is the third-largest U.S. oil refiner by capacity and […]
Chevron Agrees Hess CEO Will Not Join Board in Deal with US Regulator, Bloomberg Reports
(Reuters, 26.Sep.2024) â U.S. energy major Chevron has agreed Hess CEO John Hess will not join its board in an agreement with the U.S. Federal Trade Commission to proceed with the $53 billion takeover deal, Bloomberg News reported on Thursday citing people familiar with the matter. The proposed all-stock acquisition, […]
FTC Set to Greenlight Chevron’s $53bn Buy of Hess
(Reuters, 24.Sep.2024) â The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron‘s purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil‘s challenge to the $53 billion deal as its final hurdle. The proposed merger was first announced […]
Noble Corp. Closes Diamond Acquisition
(Noble, 4.Sep.2024) â Noble Corporation plc announces the completion of its acquisition of Diamond Offshore Drilling, Inc. This transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP drillships in the industry, and adding approximately $2bn of backlog. Following completion of the acquisition of Diamond, […]
Chevron Boosts Recovery at Two Facilities in US GOM
(Chevron, 3.Sep.2024) â Chevron Corporation has started water injection operations at two projects to boost oil and natural gas recovery at the companyâs existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico, where Chevron operations produce some of the worldâs lowest carbon intensity oil and gas. âDelivery of these two projects […]
ExxonMobil Global Outlook: Our view to 2050
(ExxonMobil, 26.Aug.2024) â In 2050, the world will be differentâvastly different. To meet critical needs, the world will need to increase access to reliable, affordable energy from a broad set of solutions. ____________________
Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal
(Bloomberg, 26.Aug.2024) â Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same â or even slightly higher â than current levels, putting efforts to reach net zero carbon emissions by mid-century well out of reach. Oil demand will remain above 100 million barrels a day through […]
Exxon Reports 2Q:24 Results
(Exxon, 2.Aug.2024) â Exxon Mobil Corporation announced second-quarter 2024 earnings of $9.2bn, or $2.14 per share assuming dilution. Cash flow from operating activities was $10.6bn and cash flow from operations excluding working capital movements was $15.2bn. Shareholder distributions of $9.5bn included $4.3bn of dividends and $5.2bn of share repurchases, consistent with […]
Exxon Plans New Guyana Oil Project to Lift Output Into 2030s
(Bloomberg, 18.Jul.2024) â Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade. The Hammerhead project will pump as much as 180,000 barrels a day as soon as […]
ExxonMobilâs 7th Project Could Push Guyanaâs Output Beyond 1.5 MMb/d by 2029
(DPI, 16.Jul.2024) â The Environmental Protection Agency (EPA) has commenced the review of an application from ExxonMobil Guyana to develop a seventh oil project at the Hammerhead field in the Stabroek Block. According to the project summary on the agencyâs website, this project is expected to add 120,000 to 180,000 barrels […]
Guyana Not Against Exxon Acquiring Hess, VP Says
(Reuters, 28.Feb.2024) â Guyana’s vice president Bharrat Jagdeo on Wednesday said the country will accept whatever is the result from discussions between Exxon Mobil Corp, Chevron Corp and Hess Corp regarding participation in the Stabroek block. Guyana is ready to welcome Chevron into the country, but would also accept a result in which […]
Head of Exxon’s Shale Business Faces Sexual Assault Charge in Texas
(Reuters, 8.Oct.2023) â The head of Exxon Mobil‘s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at a Texas hotel last week on a sexual assault charge, police said. David Scott, an Exxon senior vice president who oversees all its shale oil and gas […]
Guyanese Voice Fears Over True Cost of Exxonâs Oil Bonanza
(The Guardian, 12.May.2022) â Annette Arjoon is not anti-oil. The marine conservationist calls the vast new oilfields off Guyanaâs coast a âblessingâ that will earn billions of dollars for one of the poorest countries in the Caribbean, even as she recognises that pulling yet more fossil fuel from the ground will […]
Guyana Aims to Avoid Oil Curse by Spending on Health and Education
(FT.com, 2.May.2022) âThe president of Guyana, the worldâs fastest-growing economy, is inviting investors to back his ambitious vision to transform the small South American country into a regional health, education and transport hub with the help of burgeoning oil wealth. âWeâre investing tremendously in healthcare. and weâre investing heavily in […]
Guyana is Far from its Dream of Becoming a Rich Economy
(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 11.Apr.2022) â Exxon and the Guyana government claim total hydrocarbon âresources of around 10,000 million barrels of equivalent oilâ. Important to understand that these are recoverable resources in equivalent oil barrels, and not commercially recoverable crude oil reserves. Establishing the difference between […]
Exxon Backs The Global Methane Pledge
(Exxon, 26.Oct.2021) â In September, the U.S. and European Union announced a Global Methane Pledge to reduce methane emissions by 30% below 2020 levels by 2030. More than 30 nations have now joined the Pledge, and more could be announced at the upcoming COP26 climate summit in Glasgow, Scotland. ExxonMobil […]
ExxonMobil Reports 4Q:20 Results, Talks Forward Plans
(Exxon, 2.Feb.2021) â Exxon Mobil Corporation today announced an estimated fourth quarter 2020 loss of $20.1bn, or $4.70 per share assuming dilution. Fourth quarter capital and exploration expenditures were $4.8bn, bringing full-year spending to $21.4bn, $9.8bn lower than the prior year. Fourth Quarter and Full-Year 2020 Results — Fourth quarter […]
Exxon’s Hassa-1 Doesnât Finds Hydrocarbons
(Energy Analytics Institute, 15.Jan.2021) â Texas-based ExxonMobil announced results of the Hassa-1 exploration well offshore Guyana in the Stabroek Block didnât find hydrocarbons in the primary reservoir target. âThe Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons in the primary target reservoirs,â an Exxon spokesperson told Energy […]
Hess Sanctions Payara Development
(Hess, 30.Sep.2020) â Hess made a final investment decision to proceed with development of the Payara Field offshore Guyana after the development plan received approval from the government of Guyana. Payara is the third oil development on the Stabroek Block; gross production capacity from the three developments is expected to […]
Exxon Oil Output Falls On Gas Compressor Problem
(Stabroek News, 7.Jun.2020) â Production at Exxon-Mobilâs Liza-1 project in the Stabroek Block, offshore Guyana, has plummeted from 80,000 barrels per day (bpd) to now between 25,000 and 30,000 bpd as compressor problems continue and the company would not increase flaring above about 15 million cubic feet of natural gas […]
Environment Group Calls On Exxon To Cease Gas Flaring
(Stabroek News, 28.May.2020) â As ExxonMobil yesterday continued to play up its Guyana investments at its virtual Annual Meeting of shareholders, global environmental and human rights organisation, the Center for International Environmental Law (CIEL) called on the company to heed environmental pollution warnings and immediately stop flaring gas here. Guyanese, […]
JPMorgan Chase Climate Action Is Vastly Insufficient
(Amazon Watch, 18.May.2020) â Today, JPMorgan Chase â the largest bank in the United States and the largest banker of fossil fuels worldwide â will hold its Annual General Meeting. Among other decisions, the bankâs shareholders will vote on whether or not Lee Raymond should remain on the bankâs Board […]
ExxonMobil Tallies 16th Find Offshore Guyana
(NGI, 28.Jan.2020) â ExxonMobil, which rode the wave for worldwide exploration last year in part because of the prolific Guyana portfolio, announced another discovery offshore the South American country, where recoverable resources already were estimated at more than 8 billion boe. ExxonMobil said Monday it clinched the 16th discovery in […]
Exxon, Chevron See U.S. Shale Field Consolidation
(Reuters, 4.Sep.2019) â The two largest U.S. oil and gas companies on Tuesday left the door open for more acquisitions in the country’s top shale field. Exxon Mobil Corp expects to see industry consolidation to happen “over some period of time,” in the Permian Basin in west Texas and New […]
Guyana To Boost Royalties On Future Oil Licenses
(Reuters, 3.Jul.2019) â Guyana is preparing to raise the take of the government in future oil licences, the director of the South American countryâs Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britainâs Tullow Oil are drilling wells offshore Guyana, where Exxon has discovered […]
ExxonMobil Moving Forward With Vaca Muerta Expansion
(Exxon, 13.Jun.2019) â ExxonMobil is proceeding with a long-term oil development in Argentinaâs Bajo del Choique-La Invernada block. The project is expected to produce up to 55,000 oil-equivalent barrels per day within five years and will include 90 wells, a central production facility and export infrastructure connected to the Oldeval […]
Argentina Awards 18 Exploration Areas Offshore For $724 Million
(Energy Analytics Institute, Aaron Simonsky, 17.May.2019) â Argentinaâs Energy Secretariat awarded 18 areas corresponding to the first International Offshore Public Competition, the countryâs Finance Ministry announced May 17 in an official statement. The crude oil and natural gas exploration areas offered cover three basins of the Argentine continental shelf. Companies […]
Could Emerging Oil State Guyana Become The Richest Nation In The World?
(Oilprice.com, Irina Slav, 12.May.2019) â A tiny South American country until recently known mostly as the location of one of the worst mass suicides in modern history is about to acquire a whole new reputation, and this reputation has to do with its oil wealth. Guyana, sandwiched between Venezuela and […]
SBM Offshore Awarded Contracts For ExxonMobil FPSO Liza Unity
(SBM, 10.May.2019) â SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for […]
Guyana Oil Find Spurs Exploration Campaigns Among Neighbors
(Amsterdam News, Bert Wilkinson, 25.Apr.2019) â As Guyana, the Caribbean Communityâs largest and most resource-rich nation, prepares to become an oil producer by the end of this year, American supermajor ExxonMobil is preparing to add a fourth drilling ship to its offshore fleet given the humongous amount of oil it […]
Oil Cos, Service Providers Establish Footholds In Guyana
(Stabroek News, 22.Apr.2019) â Since ExxonMobilâs oil discoveries offshore Guyana, a number of global oil majors and oil support companies have established their presence here, with local offices and other facilities secured through leases or acquisitions. After its initial 2015 find and subsequent major discoveries, ExxonMobil announced plans to be […]
ExxonMobil Announces 13th Discovery Offshore Guyana
(ExxonMobil, 18.Apr.2019) â ExxonMobil said it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery […]
US Acknowledges Guyanaâs Right To Renegotiate Exxon Deal If It So Chooses
(Stabroek News, 10.Apr.2019) â The United States acknowledges that it is within Guyanaâs sovereign right to renegotiate the controversial Production Sharing Agreement (PSA)Â between the country and ExxonMobil and its partners if it so chooses, recently accredited US Ambassador to Guyana, Sarah-Ann Lynch says. âWe certainly believe that Guyana is […]
Repsol, Exxon and Ecopetrol Enter Into Colombian Exploration Contracts
(Energy Analytics Institute, Piero Stewart, 3.Apr.2019) â Colombiaâs National Hydrocarbon Agency (ANH) announced that Ecopetrol, Repsol ExploraciĂłn Colombia S.A., and ExxonMobil Exploration Colombia Ltd signed two separate offshore exploration contracts for the âGua Off-1â and âCol-4â blocks, ANH said 3 April 2019 in an official statement. Execution of both contracts […]
Chevron Stayed In Venezuela Long After Rivals Quit
(Wall Street Journal, Kejal Vyas and Bradley Olson, 8.Nov.2018) â For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela. But recently, executives at the last U.S. oil major in the country have debated whether it may be time to get out, […]
In Guyana, Exxon Oil Project Stirs International Tensions
(Houston Chronicle, James Osborne, 2.Nov.2018) â Almost 4,000 feet beneath the surface of the Atlantic Ocean, off the northern coastline of South America, Exxon Mobil is drilling one of the biggest oil discoveries of the last decade, the so-called Stabroek Block with an estimated 4 billion barrels of crude. It […]
Guyana May be the Next Big Beast in Global Oil
(The National, Robin Mills, 8.Oct.2018) â One of the few major new conventional oil provinces discovered this century could see the country emerge as the top per capita producer. Who will be the worldâs largest oil producing country per person in the 2020s? Kuwait perhaps, with 3 million barrels per […]
Argentinaâs Conventional Oil and Gas Attract Explorers
(Ft.com, Charles Newberry, 23.Sep.2019) â Fresh discovery indicates life beyond Vaca Muerta. A few years ago, when the giant shale play of Vaca Muerta was starting to lure oil majors such as Chevron, ExxonMobil and Shell to Argentinaâs south-west, a small company called Roch struck oil far away at the […]
The Weirdest Oil Lawsuit Of 2018
(OilPrice.com, Viktor Katona, 6.Aug.2018) â Rosneft has been rocking the Russian oil sector for quite some time already â first it acquired several domestic assets, in some cases bordering on hostile takeover, then it took on a couple of international commitments in Iraqi Kurdistan and Venezuela and secured hefty tax […]
Guyanaâs âAstonishingâ Future
(Trinidad Express, David Renwick, 31.Jul.2018) â The USâs leading oil company, ExxonMobil, continues to make discovery after discovery in its Stabroek block offshore Guyana, the latest being Longtail 1 â its eighth so far. The company says this âcreates the potential for additional resource development in the south east area […]
Guyanaâs Oil Reserves Are Larger Than Expected
(OilPrice.com, Julianne Geiger, 23.Jul.2018) â Guyanaâs recoverable offshore oil reserves are larger than expectedâby almost a billion barrels, Hess Corp CEO John Hess said in a Monday press release. Gross discovered recoverable resources for Hessâs Stabroek Block has been revised upward to 4 million barrels of oil equivalentâup from the […]
National Oil Co for Guyana Would Be Disaster
(Stabroek News, 3.Jun.2018) â The creation of a National Oil Company (NOC) will be âa disasterâ for this country warns former Government Advisor on Petroleum, Dr. Jan Mangal who says that Guyana should learn from the experiences of sister Caribbean countries, Trinidad and Tobago and Jamaica. However, the government says […]
Trinidad, Guyana and Suriname: Challenges
(AIPN, 27.Jun.2018) â Petroleum consultants and other energy sector experts will discuss the challenges and opportunities in Trinidad & Tobago, Guyana and Suriname during a discussion in London. The select group will consist of Kevin Ramnarine, former Trinidad & Tobago Energy Minister (2014-15); Energy Strategic Advisor and Lecturer Carlos Bellorin, […]
ExxonMobil, Partners Spent $24 Mln in Guyana
(Energy Analytics Institute, Piero Stewart, 22.Jun.2018) â US-based ExxonMobil Corporation and partners continue to invest in small-to-medium sized enterprises in Guyana. Irving, Texas-based ExxonMobil and project partners spent $24 million with more than 300 local suppliers in 2017 and opened the Centre for Local Business Development in the capital city […]
Uncertainty Looms Large Over LatAm Oil
(Oilprice.com, Tsvetana Paraskova, 20.Jun.2018) â While oil industry analysts and market participants are watching Venezuela closely for clues about how low its oil production will go, several other countries in Latin America are holding key elections this year, elections that will no doubt shape the countriesâ short and medium-term oil […]
ExxonMobil Announces 8th Find Offshore Guyana
(Energy Analytics Institute, Piero Stewart, 20.Jun.2018) â Irving, Texas-based Exxon Mobil Corporationâs good luck continues in Guyana. The oil giant announced it has made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block, Exxon […]
ExxonMobil Reconfirms March 2020 for First Guyana Oil
(Denis Chabrol, DemeraraWaves, 12.Jun.2018) â ExxonMobil on Tuesday reconfirmed that Guyana will pump up its first barrel of oil in March 2020, even as the Guyana government continued to fend off criticisms of the 2016 production sharing agreement. Vice President of ExxonMobil Development Company, Lisa Walters said work was well […]
ExxonMobil Advances Offshore Guyana Liza Development
(ExxonMobil, 12.Jun.2018) â The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana, ExxonMobil said. Development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production startup in 2020. The company and its co-venturers […]
The Insignificance of Venezuelaâs 342-Year R/P Ratio
(Energy Analytics Institute, Pietro D. Pitts, 24.May.2018) â Venezuelaâs reserves-to-production or R/P ratio was a remarkable 342 times in 2016 based on reserves of 300.9 billion barrels and production of 2.41 million barrels per day (MMb/d), according to BPâs Statistical Review of World Energy. Today, in a best-case scenario, Venezuelaâs […]
Venezuelaâs Oil Sector Glory Days [EAItv]
(Energy Analytics Institute, Piero Stewart, 1.May.2018) â A brief look at Venezuelaâs oil sector glory days. Will they return?
Exxon Defends Guyana Deal Amid Criticism, Seeks Quick Production
(Seeking Alpha, Carl Surran, 1.May.2018) â Exxon Mobil defends its oil production contract with Guyana after the International Monetary Fund recommended the country rewrite its tax laws to increase its share of profitable oil and close out loopholes. âWe wouldnât see any need to renegotiate,â says Erik Oswald, XOMâs VP […]
Exxon Mobil: Second Well has no Commercial Quantities of Oil
(Asianet-Pakistan, 28.Apr.2018) â ‘Unfortunately, the well did not encounter commercial quantities of hydrocarbons. Exploration wells come with a certain amount of risk and this is particularly true in frontier areas like Guyana. Success is not guaranteed,’ the local office of ExxonMobil said in a statement. The well is the second […]
Dominican Republic to Join Caribbean Energy Rush
(Bloomberg, Ezra Fieser, 5.Mar.2018) â The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean to develop energy production. […]
ExxonMobil Announces Seventh Oil Discovery Offshore Guyana
(Exxon Mobil, 28.Feb.2018) â Exxon Mobil Corporation announced its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. ExxonMobil encountered approximately 65 feet (20 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,363 feet (5,597 meters) depth in 6,781 feet (2,067 meters) of […]
Shell Made Mistake Pulling Out of Guyana basin
(CaribbeanLife, Bert Wilkinson, 31.Jan.2018) â Now that Guyanaâs oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far […]
ExxonMobil Announces Sixth Oil Discovery Offshore Guyana
(Exxon Mobil, 5.Jan.2018) â Exxon Mobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobilâs sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion […]
ExxonMobil Announces Fifth Discovery Offshore Guyana
(Exxon Mobil, 5.Oct.2017) â Exxon Mobil Corporation announced it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot is ExxonMobilâs latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep. Following completion of the Turbot-1 well, the […]
ExxonMobil Announces Successful Payara-2 Well Offshore Guyana
(Exxon Mobil, 25.Jul.2017) â Exxon Mobil Corporation announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. These positive well results increase the estimated gross recoverable resource for the Stabroek Block to between 2.25 billion oil-equivalent barrels […]