Sunday, February 5, 2023

Exploration

Eco Atlantic says Guyana prospect contains approximately 3 billion barrels of oil and gas

(Reuters) - A prospect operated by Tullow Oil off Guyana contains an estimated 3 billion barrels of oil and gas, its partner Eco Atlantic said on Tuesday, as the two firms prepare to drill in the Latin American oil...

Guyana’s oil fortune rapidly increasing

‘Unprecedented’ is the one word that sums up the remarkable string of oil discoveries which US supermajor ExxonMobil has been making off the Guyana coast since 2015. The company’s success rate for finding crude in an area five and...

ExxonMobil strikes oil again in 9th discovery off Guyana coast

ExxonMobil (NYSE:XOM) has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters)...

ExxonMobil says US$460M spent on drill campaign, other efforts which led to world-class Liza discovery

ExxonMobil Guyana said on Friday that the company expended US$460M between 1999 and 2015 on a range of activities and interventions which led to the world-class Liza discovery, set to propel the South American country towards becoming a significant...

United Oil & Gas says 3D data acquired off Jamaica coast “encouraging”

UK-based United Oil & Gas Plc said on Monday, August 13, that the fast track version of the recently acquired 3D seismic dataset over the Walton-Morant licence offshore Jamaica, has been delivered by the operator, Tullow Jamaica Ltd. Encouragingly,...

Guyana ‘uniquely advantaged by scale, reservoir quality, cost and rapid returns’ – Hess

The more than 4 billion oil-equivalent barrels discovered to date in the Stabroek Block offshore Guyana is uniquely advantaged by its scale, reservoir quality, cost, rapid cash paybacks and superior financial returns. John Hess, Chief Executive Officer of Hess Corporation...

Hammerhead is next stop for Stena Carron as oil search continues offshore Guyana

Fresh off of its eight oil discovery offshore Guyana, ExxonMobil is set to continue its exploration campaign at Hammerhead-1 in the 6.6 million acres Stabroek Block. Senior Director, Public and Government Affairs, Kimberly Brasington, said the Stena Carron will soon...

Hart Energy: oil, gas exploration activity picks up but concerns remain

The success story unfolding offshore Guyana where ExxonMobil Corp. has made seven oil discoveries coupled with recent wins by Chevron Corp., Total SA and Royal Dutch Shell Plc in the Gulf of Mexico (GoM) plus others offshore Norway and...

Big oil firms hold back on drilling

(The Wall Street Journal) The world’s biggest oil companies are awash in cash, thanks to rising crude prices. But few, if any, are going on spending sprees, even as the prospect of a global oil shortage looms. Western energy giants...

Schlumberger CEO warns of tightening oil market

The head of the world’s largest oilfield service company warned of growing global supply challenges in the coming year as Venezuelan production falls and Nigerian and Libyan output reach capacity amid lingering fears of possible sanctions against Iran, Hart...

Latest News

Exxon made US$56 billion last year. So, what?

ExxonMobil made a US$55.7 billion profit in 2022. That is a huge number. So, when Guyanese media outlets report...