Exploration

Exploration

Rystad Energy says ‘numerous exploration prospects’ remain at giant Stabroek Block

OilNOW -
The prolific Stabroek Block offshore Guyana, covering an area of 6.6 million acres, still has multiple exploration prospects remaining with large swathes of the ExxonMobil-operated license still unexplored. This is despite the U.S. oil major and co-venturers Hess and...
Exploration

Maersk Drilling upbeat about Guyana campaign, rig now booked for second well

OilNOW -
CGX Resources Inc., operator and joint venture partner with Frontera Energy Guyana Corp has exercised an option to drill one additional exploration well offshore Guyana. The work is expected to commence in the first half of 2022 in direct...
Exploration

Explorers betting big on Kawa-1, confident of hitting pay in major comeback

OilNOW -
Updated August 29, 2021 CGX Resources Inc. (CRI), operator of the Corentyne block offshore Guyana, believes the chance of finding hydrocarbons at the Kawa-1 prospect has increased since the company last drilled wells in the South American country back in...
Exploration

Brazil planning to expand Open Acreage program – could unlock smaller oil deposits

OilNOW -
(S&P Global Platts) Brazil plans to expand the country's Open Acreage program to include exploration and production blocks inside the subsalt polygon that requires production sharing contracts in a move that could unlock development of smaller oil and natural...
Exploration

Stabroek Block – multiple prospects and play types

OilNOW -
The Stabroek Block, located approximately 120 miles offshore Guyana, covers an area of 6.6 million acres (26,800 square kilometers). The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional...
Exploration

Platts panel talk up Guyana deepwater oil prospects

OilNOW -
Updated August 21, 2021 “So, it's like the western hemisphere's Abu Dhabi in a sense” Guyana – the biggest oil story in the last decade – remains the centre of attention in any discussion on deepwater prospects in the western hemisphere....
Exploration

Repsol planning to drill another well offshore Guyana in 2022 – head of exploration

OilNOW -
Spanish oil company Repsol plans to drill another well offshore Guyana in 2022. Speaking at the Offshore Technology Conference this week, Tomas Zapata, Head of Exploration for the Americas, said the company is optimistic about hitting pay after the first...
Exploration

Guyana oil wells among deepest, most complex in region

OilNOW -
Updated August 15, 2021 Over 100 exploration wells are expected to be drilled in South America outside Brazil over the next 5 years and Norway-based Rystad Energy has said most of the action could be found off the northern shelf...
Exploration

Guyana oil exports could average US$72 million per lift for remainder of year

OilNOW -
In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in...
Exploration

Maersk Discoverer en route to Guyana for 85-day drill campaign at Corentyne block

OilNOW -
The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of...
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SBM Offshore expects US$1.9 billion in earnings this year, driven by Guyana FPSO sales

SBM Offshore has updated its 2024 earnings guidance to US$1.9 billion, representing a 46% increase from the previous US$1.3...

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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