XOM confirms significant Guyana discovery

May 20, 2015

ExxonMobil confirmed a significant oil discovery on the Stabroek Block found 120mi offshore Guyana.

The well, spud on 5 March 2015, was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana, and encountered more than 295ft (90m) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825ft (5433m) in 5719ft (1743m) of water. Stabroek Block includes 6.6 million acres (26,800sq km).

“I am encouraged by the results of the first well on the Stabroek Block,” says Steve Greenlee, president of ExxonMobil Exploration. “Over the coming months, we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.”

Esso Exploration and Production Guyana holds 45% interest, Hess Guyana Exploration 30% and CNOOC Nexen Petroleum Guyana holds the remaining 25%.

Image: Drillship / ExxonMobil

Read more:

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CGX to drill Guyana well in 2015



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