Adds to previous recoverable resource estimate of approximately 9 billion barrels of oil equivalent
Mako-2 appraisal well results, together with the previously announced Uaru-2 discovery, give line of sight to a potential fifth FPSO on the Stabroek Block
Hess Corporation (NYSE: HES) today 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.
ExxonMobil (XOM) Increases Guyana Crude Production Target Zacks.com 2 hrs ago
Exxon Mobil Corporation XOM reportedly increased its guidance for production from Guyana. The company’s fourth deepwater project in Guyana is expected to boost output.
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Reports stated that the company will likely reach a production of 800,000 barrels per day (bpd) by 2025, per its latest environmental permit application. The figure reflects an increase from the previous projection of 750,000 bpd by 2026. Furthermore, production is expected to reach 1 million bpd by 2027.
From the Yellowtail project, the company is expected to produce 250,000 bpd of oil. This will mark the highest output from a single project in the region. It is likely to commence output by 2025-end. Importantly, it made a significant oil discovery (19
ExxonMobil discovery at Uaru-2 offshore Guyana; block recoverable resource estimate upped to 9B barrels oil-equivalent
ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana (earlier post). Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels.
Drilling at Uaru-2 encountered approximately 120 feet (36.7 meters) of high-quality oil-bearing reservoirs including newly identified intervals below the original Uaru-1 discovery. The well was drilled in 5,659 feet (1,725 meters) of water and is located approximately 6.8 miles (11 kilometers) south of the Uaru-1 well.
Source: ExxonMobil
In January 2020, ExxonMobil announced that Uaru-1 was the 16
Exxon Mobil Corp. (NYSE: XOM) on Tuesday reported another oil discovery in the Stabroek Block offshore Guyana.
Located some 6.8 miles (11 kilometers) south of the Uaru-1 well, the most recent Uaru-2 well encountered approximately 120 feet (36.7 meters) of high-quality oil-bearing sandstone reservoir that includes newly identified intervals below Uaru-1, ExxonMobil noted in a written statement emailed to Rigzone. The company noted the latest discovery augments Stabroek’s previous recoverable resource estimate of approximately 9 billion barrels of oil equivalent.
“The Uaru-2 discovery enhances our work to optimally sequence development opportunities in the Stabroek Block,” remarked Mike Cousins, ExxonMobil’s senior vice president of exploration and new ventures. “Progressing our industry-leading investments and well-executed exploration plans are vital in order to continue to develop Guyana’s offshore resources that unlock additional value for the people of Guyana and all