Hess Corp. Reports 1Q:21 Results
(Hess 28.Apr.2021) — Hess reported net income of $252mn, or $0.82 per common share, in the first quarter of 2021, compared with a net loss of $2,433mn, or $8.00 per...
Guyana Should Consider Oil Hedge Now
(Stabroek News, 26.Apr.2021) — December 20th marked the one-year anniversary of oil being lifted from Guyana’s ocean floor. Who has benefitted the most from our oil? Is it the people...
Hess Updates On Ops In The US, Guyana And Malaysia
(Hess, 27.Jan.2021) — Hess Corporation provided operational highlights from the fourth quarter of 2020 and its operations in the US Bakken, the US Gulf of Mexico, offshore Guyana and Malaysia....
Hess Reports 4Q:20 Net Loss
(Hess, 27.Jan.2021) — Hess Corporation reported a net loss of $97mn, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of $222mn, or...
Hess Announces 2021 E&P CAPEX Of $1.9bn
(Hess, 25.Jan.2021) — Hess today announced a 2021 Exploration & Production capital and exploratory budget of $1.9bn, of which more than 80% will be allocated to Guyana and the Bakken....
Hess Reveals 4Q:20 Earnings Conference Call Date
(Hess, 8.Jan.2021) — Hess will hold a conference call on Wednesday 27 January 2021 at 10 a.m. Eastern Time to discuss its fourth quarter 2020 earnings release. To phone into...
Exxon’s To Plug Tanager-1 Well Offshore Guyana
(Westmount, 17.Nov.2020) — Westmount Energy Ltd., further to the announcement by Ratio Petroleum Energy Limited Partnership dated today, that the Tanager-1 well, offshore Guyana, has been reported as an oil...
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212...
BHP Buys Additional 28% Interest In Shenzi From Hess
(BHP, 6.Oct.2020) — BHP signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28% working interest in Shenzi, a six-lease development in the...
Hess To Divest Interests In Shenzi Field, Gulf of Mexico
(Hess, 5.Oct.2020) — Hess entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator,...
Hess Sanctions Payara Development
(Hess, 30.Sep.2020) — 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....
Hess To Participate In Barclays CEO Conference
(Hess Corp., 4.Sep.2020 — Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on 9 September 2020 at 8:25 a.m....
Stena Inks Deal For Tullow Suriname Well
(Energy Analytics Institute, 1.Sep.2020) — Stena Drilling inked a new contract with Tullow Suriname BV for the Stena Forth drillship to drill one well offshore Suriname in Block-47. Block 47...
Can Guyana Salvage Its Much-Hyped Oil Boom?
(Oilprice.com, 25.Aug.2020) — The deeply impoverished South American country of Guyana in recent years was heralded as the hottest new oil boom in the Americas. A series of large offshore...
ExxonMobil Holding Out For Approval Of Payara Project
(Stabroek News, 13.Aug.2020) — On the heels of President Irfaan Ali’s announcement on Tuesday that the Payara project approval will have to wait on an international oil expert’s assessment and...
Guyana Election Casts Shadow Over Oil Finds
(Forbes, 1.Aug.2020) — Hess Corp. reported more good news from its joint development of Guyana’s Stabroek Block with ExxonMobil and CNOOC on Thursday. The company announced that recently-completed appraisal drilling...
World’s Newest Oil Boom Is Facing A Major Problem
(Oilprice.com, 22.Jul.2020) — After a series of major offshore oil discoveries since 2015, with the largest ever made earlier this year, the tiny South American country of Guyana has become...
Guyana Awaits New Oil Authorities
(Argus, 9.Jul.2020) — Changes are coming to the management and policy of Guyana's fledgling oil sector, after a regional court cleared the way for declaring a victory for the opposition...
The Oil Nation Aiming To Emulate Guyana’s Success
(Oilprice.com, 20.Jun.2020) — Paths to economic development might vary, ranging all the way from ruthless dictatorships hewing their way with an iron fist to established democracies laboring towards the well-being...
Guyana’s Crude Flow Drops On Technical Glitch
(Argus, 9.Jun.2020) — Guyana's crude production has plunged by 65pc to 27,500 b/d from early May because of technical problems with compression equipment. "We do not know how long this...
Hess Reports Estimated Results For 1Q:20
(Hess, 7.May.2020) — Hess Corporation reported a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020, including impairment and other after-tax charges of $2,251...
Over 30 Cos Vie For Guyana Oil Trading Contract
(Reuters, 21.Apr.2020) — More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions...
Exxon Could Delay Third Guyana Project
(Reuters, 7.Apr.2020) — Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world's newest offshore oil hotspot,...
Oil Making Guyana Wealthy But Intensifying Tensions
(The New York Times, 7.Apr.2020) — On a sprawling abandoned sugar estate by the coast of Guyana, the scale of the changes sweeping across the country is immediately visible. In...
Political Battle Could Jeopardize Oil Boom
(Oilprice.com, 6.Apr.2020) — Amidst the torrent of news on the adverse impacts of COVID-19, recent developments in Guyana stand out as something of a countercurrent. In times when the entire...
Guyana’s Burgeoning Oil Wealth Kindles Contract Row
(S&P Global Platts, 30.Jan.2020) — ExxonMobil's growing oil discoveries offshore Guyana are amplifying domestic calls for a review of production-sharing contract terms on the eve of the small South American...
ExxonMobil Tallies 16th Find Offshore Guyana
(NGI, 28.Jan.2020) — 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...
Hess Announces Oil Discovery At Uaru
(Hess, 27.Jan.2020) — Hess announced another oil discovery offshore Guyana at the Uaru well, the 16th discovery on the Stabroek Block. The company also announced an increase in the estimated...
ExxonMobil Reports 15th Guyana Find At Mako-1 Well
(Exxon, 23.Dec.2019) — ExxonMobil said today it made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block....
Quality Testing Guyana’s First 3 MMbbls
(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed...
Ecopetrol Finds Oil In GOM Deep Waters
(Ecopetrol, 7.Nov.2019) — Ecopetrol reports that its US subsidiary, Ecopetrol America LLC, has participated in the drilling of the Esox-1 well under a Farmout Agreement with Chevron U.S.A. Inc. The...
Exxon, Hess Move Up Guyana First Oil Date
(Chron.com, Jordan Blum, 30.Oct.2019) — Exxon Mobil and Hess Corp. said they are moving up the start date for first oil production in Guyana to December instead of the previous...
Hess Announces Oil Find At Esox-1 GOM Well
(Hess, 29.Oct.2019) — Hess Corporation announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico. Esox-1 was drilled...
Diplomats Say Guyana Gov’t In Breach Of Constitution
(Reuters, 19.Sep.2019) — U.S. and European diplomats on Thursday declared Guyana's government in breach of the country's constitution until new elections are held and called on Guyanese President David Granger...
Liza Destiny Arrives In Guyana
(Argus, 2.Sep.2019) — Guyana received its first floating, production, storage and offloading unit (FPSO) Liza Destiny in anticipation of ExxonMobil's production launch in March 2020. Liza Destiny. Source: ExxonMobil The...
Hess Says Liza Destiny FPSO Arrives Offshore Guyana
(Hess, 29.Aug.2019) — Hess Corporation announced that the Liza Destiny, Guyana’s first oil production vessel, has arrived at the Stabroek Block. Source: Exxon The Floating, Production, Storage and Offloading (FPSO)...
Guyana Find Progresses Amid Political Tensions
(Forbes, David Blackmon, 29.Jul.2019) — Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the...
Could Emerging Oil State Guyana Become The Richest Nation In The World?
(Oilprice.com, Irina Slav, 12.May.2019) — 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...
Guyana’s Latest Discovery Similar To Nearby Liza, Hess Says
(Seeking Alpha, Carl Surran, 25.Apr.2019) — Hess says Guyana's latest offshore deepwater discovery contains oily fluids similar to those of the initial Liza discovery, which is being readied for first...
Hess, Exxon Mobil Prep For More Exploration Offshore Guyana
(Hart Energy, Velda Addison, Senior Editor, 31.Oct.2018) — Partners Exxon Mobil, Hess Corp. and CNOOC Nexen Petroleum are making progress toward development of the hydrocarbon bounty discovered offshore Guyana. “This...
Let’s Use Guyana Oil Funds for Teachers
(Stabroek News, 6.Sep.2018) — Dear Editor: How could we have billions of barrels of oil in 2018 and not be able to pay our teachers a living wage? The value...
Tullow Oil to Drill First Guyana Well in 3Q:19
(Reuters, 5.Sep.2018) — Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries...
Offshore Guyana Oil and Gas Potential is “Massive”
(UPI, Daniel J. Graeber, 23.Jul.2018) – The size of a reservoir off the coast of Guyana is "massive," the CEO of Hess Corp. said Monday after a multi-million barrel revision...
The $20 Billion Question for Guyana
[caption id="attachment_2501" align="alignnone" width="1885"] Guyana fishermen make their way home to the coastal community of Clonbrook at the end of another day at sea. Guyana is one of the poorest...
US$1.4B Deal to Restart St Croix Refinery
(Stabroek News, 3.Jun.2018) – U.S. Virgin Islands Governor Kenneth E. Mapp announced yesterday an agreement which would reopen one of the world’s largest refineries, create hundreds of jobs in the...
ExxonMobil Announces 8th Find Offshore Guyana
(Energy Analytics Institute, Piero Stewart, 20.Jun.2018) – Irving, Texas-based Exxon Mobil Corporation’s good luck continues in Guyana. The oil giant announced it has made its eighth oil discovery offshore Guyana...
ExxonMobil Reconfirms March 2020 for First Guyana Oil
(Denis Chabrol, DemeraraWaves, 12.Jun.2018) – 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...
ExxonMobil Advances Offshore Guyana Liza Development
(ExxonMobil, 12.Jun.2018) – 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...
Chevron, Hess, Kosmos Finalizing 1st Prospect Test in Suriname
(Energy Analytics Institute, Aaron Simonsky, 30.May.2018) ‐- Kosmos Energy, Chevron Corporation and Hess Corporation are close to finalizing prospects tests in Block 42 in Suriname. The three companies are finalizing...
Hess Acquires Interest in New Acreage Offshore Guyana
(World Oil, 30.Apr.2018) – Hess Corporation has announced that its subsidiary, Hess Guyana (Block B) Exploration Limited, had reached agreement with Esso Exploration and Production Guyana Limited (ExxonMobil) to acquire...
ExxonMobil Announces Seventh Oil Discovery Offshore Guyana
(Exxon Mobil, 28.Feb.2018) – 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,...
ExxonMobil Announces Sixth Oil Discovery Offshore Guyana
(Exxon Mobil, 5.Jan.2018) – Exxon Mobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to...
Hess Divest Interests In Equatorial Guinea
(Hess, 23.Oct.2017) — Hess Corporation entered into an agreement to sell its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650mn, effective...
ExxonMobil Announces Fifth Discovery Offshore Guyana
(Exxon Mobil, 5.Oct.2017) – Exxon Mobil Corporation announced it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot is ExxonMobil’s latest discovery to date in...
ExxonMobil Makes Final Decision Regarding Liza Development
(Exxon Mobil, 16.Jun.2017) – Exxon Mobil Corporation said it has made a final investment decision to proceed with the first phase of development for the Liza field, one of the...
ExxonMobil Announces New Oil Discovery Offshore Guyana
(Exxon Mobil, 30.Mar.2017) – Exxon Mobil Corporation announced positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as...
Guyana’s Initial Oil Output to Surpass Trinidad
(Energy Analytics Institute, Pietro D. Pitts, 2.Mar.2017) – Sleepy Guyana is gearing up to surpass twin-island nation Trinidad and Tobago in terms of oil production. Production plans by Irving, Texas-based...
ExxonMobil Announces New Oil Discoveries Offshore Guyana
(Exxon Mobil, 12.Jan.2017) – Exxon Mobil Corporation announced positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in...
ExxonMobil Awards Key Contracts for Liza in Guyana
(Exxon Mobil, 20.Dec.2016) – Exxon Mobil Corporation subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), announced that it has awarded contracts to SBM Offshore for a floating production, storage and...
ExxonMobil’s 2nd Well Offshore Guyana Confirms Oil
(Exxon Mobil, 30.Jun.2016) – Exxon Mobil Corporation said that drilling results from the Liza-2 well, the second exploration well in the Stabroek block offshore Guyana, confirm a world-class discovery with...
ExxonMobil Reports Significant Oil Discovery Offshore Guyana
(Exxon Mobil, 20.May.2016) – Exxon Mobil Corporation announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso...