Exploration

Exploration

Kawa-1 elevates hope for shelf explorers in Guyana basin – Wood Mackenzie

OilNOW -
The recent announcement by CGX Energy Inc. and Frontera Energy Corporation of a discovery at the Kawa-1 well in the Corentyne Block elevates hope for shelf explorers in the Guyana basin says leading UK consultancy group, Wood Mackenzie. In an...
Exploration

Suriname lining up with Guyana to advance deepwater development this year

OilNOW -
Suriname lies down-dip of the prolific reservoirs in neighbouring Guyana. The country has seen a gradual build-up of exploration activity since ExxonMobil’s first discovery across the border at Liza-1 in 2015. Majors such as Shell, ExxonMobil and TotalEnergies have farmed...
Exploration

CGX delivers historic discovery after more than 2 decades on the hunt

OilNOW -
After more than 20 years of seismic data acquisition and drilling, CGX Energy Inc. has finally landed its first oil discovery in Guyana at the Kawa-1 well on the Corentyne Block which appears to rival some of the notable...
Exploration

Exxon delivered big results in Guyana last year as discoveries plummeted globally

OilNOW -
Oil and Gas explorers around the world had high hopes pinned on 2021 as pandemic restrictions eased and wildcat wells deferred from the year before were given the green light. But according to Rystad Energy, despite an impetus from...
Exploration

Exxon looking to hit pay at Patwa-1

OilNOW -
Patwa-1 is the latest prospect to be targeted by ExxonMobil at the Stabroek Block offshore Guyana where over 10 billion barrels of oil equivalent resources have already been found. OilNOW understands the Noble Sam Croft will be engaged in drilling...
Exploration

Guyana-Suriname Upper Cretaceous play delivered the goods in 2021

OilNOW -
Frontier exploration drilling fell to its lowest level since 2008 with only 15 frontier wells being completed and only one making a potentially modest sized commercial discovery according to a report released this week by energy market research and...
Exploration

2022 Guyana bid round will open more acreage in prolific basin

OilNOW -
By the third quarter of this year, Guyanese authorities plan to auction the nation’s remaining offshore oil blocks to international oil companies (IOC) marking a shift from the country’s earlier awards of production sharing contracts (PSCs) based on direct...
Exploration

Lau Lau-1 is Exxon’s largest discovery by depth in Guyana; almost three times the height of Marriott Hotel

OilNOW -
To date, there have been more than 20 major discoveries in the ExxonMobil-operated Stabroek Block offshore Guyana. The largest of them by depth is Lau Lau-1 which was announced on January 5 by the American multinational. The Lau Lau-1 well...
Exploration

Guyanese inspectors will begin testing crude produced offshore from this month

OilNOW -
The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...
Exploration

So far only Stabroek has delivered the goods…what’s next?

OilNOW -
High impact wells will continue to dominate global offshore exploration this year with mainly the big prospects being of significant interest to oil majors and larger National Oil Companies (NOC). The Guyana-Suriname Basin remains at the top of the...
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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...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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