Exploration

Exploration

Thirst for exploration to continue in 2021 with 38 High Impact Wells planned – IHS Markit

OilNOW -
The search for oil in key hotspots across the globe is expected to continue in earnest this year and this will see approximately 38 High Impact Wells (HIWs) being drilled, according to American-British information provider, IHS Markit. Jack Rivers, Director...
Exploration

Bulletwood, Bonboni key wells to watch as exploration takes off in the Americas this year – Westwood

OilNOW -
Guyana and Suriname remain two major hotspots for exploration activity in 2021 with a number of key wells to watch as the Americas take the lead in the hunt for hydrocarbon resources this year. Westwood Global Energy Group said in...
Discoveries

Guyana could find more oil, and closer to shoreline

OilNOW -
Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one official saying that the hydrocarbon resources found at the Stabroek block so far is just...
Exploration

Guyana delivered, global exploration picked up…then the pandemic struck

OilNOW -
A Wood Mackenzie analysis from Andrew Latham, Kristina Beadle, and David Parkinson  The global exploration industry was in a good place at the start of 2020, having recovered from a decade of high costs and poor monetisation. In this article Wood Mackenzie shares...
Exploration

Permit delays in Brazil could see Guyana emerge as deepwater winner for investments

OilNOW -
Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...
Exploration

Exxon conducted largest 3-D seismic survey in company’s history offshore Guyana

OilNOW -
By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as the 1970s, had already been drilled by other companies on the coastal shelf outside the...
Exploration

BPC spuds Perseverance #1 well in The Bahamas

OilNOW -
Bahamas Petroleum Company has spudded the Perseverance #1 well in The Bahamas, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. The company said on Monday the well was drilled on December 20 at...
Exploration

New report points to over 2.4-billion-barrel oil potential in Jamaica

OilNOW -
The unprecedented oil exploration success in Guyana is raising hopes for countries throughout the region and this is seeing a renewed emphasis being placed on the search for black gold. An independent evaluation of Prospective Resources offshore Jamaica prepared by Gaffney...
Exploration

ExxonMobil prepping for drill-stem test at Redtail-1 offshore Guyana

OilNOW -
A drill-stem test operation is set to get underway at the Redtail-1 well site located 103 nautical miles off the coast of Guyana at the Stabroek block. Redtail-1 is ExxonMobil’s 18 discovery on the block, announced in September. The well...
Exploration

Development of Guyana’s mega oil fields crucial as major shortfall in world supply expected

OilNOW -
Global oil reserves are not being replenished with enough conventional resources for future demand of oil and gas and this is set to create a major shortfall through 2050 despite lower future demand due to the coronavirus pandemic and...
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Latest News

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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...

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