Exxon Strikes More Oil Offshore Guyana
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 enhan...