Exploration

Exploration

Multiple play types with an 87% success rate make Guyana a unique frontier

OilNOW -
The resource growth in Guyana’s Stabroek Block is being described as ‘staggering’ by a top official at US oil major ExxonMobil who says while the average success rate in a frontier area is 10%, the company has had an...
Exploration

ExxonMobil evacuates staff from Iraq following rocket fire

OilNOW -
Rocket fire on Wednesday June 19 near the site of ExxonMobil’s operation in Iraq, has triggered an evacuation of the US oil major's staff, Reuters reports. According to Reuters, a rocket hit a site in southern Iraq which is used...
Exploration

Why explorers are in the grip of an existential crisis

OilNOW -
The energy transition is challenging the raison d'etre of conventional exploration, which has always been the industry's primary engine for growth. So says Andrew Latham, Vice President of Global Exploration at Wood Mackenzie. In a low-carbon future, is there still room...
Exploration

Guyana government did not sanction oil blocks probe

OilNOW -
The Guyana government said on Friday it only learnt about a probe into the award of oil blocks through media reports and it has not received any formal update from the State Asset Recovery Agency (SARA) in relation to...
Exploration

Offshore drilling making comeback with low-cost targets like Stabroek

OilNOW -
Producing 120,000 barrels of oil per day from the Permian basin would require a $12.8 billion investment while hitting the same volume from Guyana’s Stabroek Block require just $3.7 billion for the first phase of the Liza Development project. John...
Exploration

CGX to begin hazard assessment at Utakwaaka-1

OilNOW -
CGX Energy Inc. is set to begin a shallow hazard survey at its Utakwaaka-1 well site offshore Guyana ahead of a drill campaign scheduled to get underway by or before November 2019. Guyana’s Maritime Administration Department said the operation, which...
Exploration

Guyana discoveries help ExxonMobil add 4.5 billion barrels to its reserves

OilNOW -
ExxonMobil said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. The company said continuing success in exploration and strategic acquisitions in Guyana and Brazil have...
Exploration

Major oil find excites southern Caribbean

OilNOW -
(Amsterdam News) U.S. supermajor ExxonMobil announced two major oil finds offshore Guyana in the past week, and the discovery has raised the hopes for similar massive oil discoveries in two of its neighbors that incidentally already produce oil and...
Exploration

Tilapia encountered “highest net pay count” to date on Stabroek Block

OilNOW -
The two most recent discoveries on Guyana’s prolific Stabroek Block is particularly significant since one represents the highest net pay count found to date and the other the first gas discovery announced by the ExxonMobil-led consortium of Hess and...
Exploration

Guyana moving towards open bidding for oil blocks, multi-client seismic survey

OilNOW -
Guyana could soon have its first open bid round for oil blocks by Q1 2020 the Director of the Department of Energy (DoE), Dr. Mark Bynoe, told reporters on Monday. An overhaul of the 1986 Petroleum Exploration and Production Act,...
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An inside look at the complex nature of moving a drillship 

Relocating a drillship requires careful planning and execution, according to Richard Wells, International Logistics Manager at Stena Drilling, who...

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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