ExxonMobil Makes Two Discoveries Offshore Guyana
ExxonMobil and its partners have made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12, the U.S. supermajor announced Wednesday. The discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block.Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbot, Longtail and Pluma discoveries. Tilapia-1 encountered approximately 305 feet (93 meters) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18…
Exxon Reorganizing Exploration Units
Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration businesses aimed at reversing years of weak oil and gas output.Chief Executive Darren Woods, who took over the helm two years ago, has spent billions to buy production, build new pipelines and expand refineries after a series of costly misfires on deals under predecessor Rex Tillerson.Woods, who will address Wall Street analysts on an earnings call Friday for the first time as CEO, has been pleading with investors for patience as he restructures its sprawling businesses. The Exxon veteran replaced Tillerson, who became U.S.
ExxonMobil Makes Discovery Off Guyana
U.S. major ExxonMobil has made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels, reinforcing potential for at least five floating storage, production and offloading (FPSO) vessels producing more than 750,000 barrels of oil per day by 2025.The resource estimate, up from the previous estimate of more than 4 billion oil-equivalent barrels, is a result of further evaluation of previous discoveries and includes a…
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an 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. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza…
ExxonMobil Wins Eight Deepwater Blocks in Brazil
ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round. The blocks awarded add about 640,000 net acres to the ExxonMobil portfolio. Six of the eight newly awarded blocks will be operated by ExxonMobil. The additional blocks expand the company’s total position in the country to more than two million net acres, making it one of the largest acreage holders among international companies in Brazil. “These recent bid round results add highly prospective acreage to ExxonMobil’s deepwater portfolio that we will explore and develop with our partners…
ExxonMobil Announces Oil Discovery Offshore Guyana
Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 6,450 meters depth in 2,735 meters of water.
ExxonMobil Makes New Discovery Onshore Papua New Guinea
Exxon Mobil Corporation (NYSE:XOM) today announced a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles (21 kilometers) northwest of the Hides Gas Field. Interest owners are ExxonMobil (42.5 percent), Oil Search Limited (37.5 percent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent, subject to regulatory approval), with Oil Search as operator. The Muruk-1 well encountered similar high-quality sandstone reservoirs as the Hides field and was in line with pre-drill expectations. It was safely drilled to 10,630 feet (3,130 meters). Evaluation is underway to determine the size of the discovery.
ExxonMobil Makes Gas Discovery in Papua New Guinea
Exxon Mobil Corporation announced a new natural gas discovery in the Papua New Guinea North Highlands, 21 kilometers northwest of the Hides Gas Field. Interest owners are ExxonMobil (42.5 percent), Oil Search Limited (37.5 percent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent, subject to regulatory approval), with Oil Search as operator. The Muruk-1 well encountered similar high-quality sandstone reservoirs as the Hides field and was in line with pre-drill expectations. It was safely drilled to 3,130 meters. Evaluation is underway to determine the size of the discovery.
