Exploration

Discoveries

APA shares fall 4% after encountering water-bearing reservoirs offshore Suriname

OilNOW -
APA corporation, an affiliate of Apache Corporation, said it encountered water-bearing reservoirs at Rasper well in the northwestern area of Suriname’s Block 53. “The well encountered water bearing reservoirs in the Campanian and Santonian intervals, evaluation of the open hole well...
Exploration

Guyana oil could help meet global demand for next 20-30 years

OilNOW -
Even as the world transitions to renewable energy, demand for fossil fuels will remain robust over the next 20-30 years. Guyana’s low cost, low carbon barrels are best positioned to meet this demand and the South American country has...
Exploration

T&T intent on ramping up natural gas production to highest levels possible

OilNOW -
While some international groups have advised that nations move swiftly towards the diversification of their energy mix with renewable resources taking the lead, Trinidad and Tobago’s Prime Minister, Dr. Keith Rowley, said his home country is taking a different...
Exploration

Guyana-Suriname basin steals spotlight from Brazil – Rystad Energy

OilNOW -
The Guyana-Suriname basin has overtaken Brazil’s pre-salt play as South America’s leading exploration hotspot, says Rystad Energy, an independent energy research and business intelligence company based in Norway. This latest feat, it said, can be credited mostly to ExxonMobil’s basin-opening...
Exploration

Big volumes at 18,000 ft could see standalone FPSO for new Stabroek Block development

OilNOW -
The Fangtooth discovery which was announced by ExxonMobil back in January 2022 holds enough oil deposits to underpin its own floating, production, storage and offloading (FPSO) vessel. This was disclosed by Hess Corporation which has a 30% working interest...
Exploration

‘If CGX can’t raise funds to meet commitments, that’s none of our business’ – Jagdeo

Kemol King -
Not long after the Irfaan Ali administration assumed office in 2020, CGX Energy was granted an extension to its deadline to drill a well on the Corentyne block offshore Guyana. While it looks like CGX may need another extension – this...
Exploration

Repsol preparing to spud Beebei-1 well at Kanuku Block

OilNOW -
Repsol, operator of the Kanuku Block offshore Guyana, is preparing to undertake drilling operations at the Beebei-1 prospect. OilNOW understands the well will be spudded around May 25. Repsol has a 37.5 stake in the Kanuku Block. The other partners...
Exploration

Discovered resources in Guyana set to increase as Exxon ramps up exploration operations

OilNOW -
ExxonMobil’s search for more crude is moving forward offshore Guyana, with campaigns ongoing at new prospects at the 6.6 million acres Stabroek Block. The company is continuing exploration drilling operations at Seabob-1 and Kiru Kiru-1 utilising the Stena Carron and...
Exploration

CGX, Frontera announce discovery of light oil, gas condensate at ‘plugged and abandoned’ well

OilNOW -
Following their receipt of integrated results for the Kawa-1 well, Canadian joint venture partners, CGX Energy Inc. and Frontera Energy Corporation announced on Monday that the “finder well” successfully unlocked light oil and gas condensate at the Corentyne Block. Gabriel...
Exploration

Guyana holds over 10% of all conventional resource finds since 2015

OilNOW -
Guyana has made its mark in the global oil and gas industry with an estimated proven recoverable resource of nearly 11 billion oil-equivalent barrels in the ExxonMobil-operated Stabroek Block. “That figure accounts for more than 10% of all the conventional...
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NewsOilNOW -

SBM Offshore expects US$1.9 billion in EBITDA this year, driven by Guyana FPSO sales

SBM Offshore has updated its 2024 guidance for earnings before interest, taxes, depreciation and amortization (EBITDA)to US$1.9 billion, representing...

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