Exploration

Exploration

Offshore Rigs: The Basics

OilNOW -
Offshore exploration and development wells are often drilled from mobile offshore drilling units (MODUs, pronounced "moe-dooz"). Depending on the water depth and remoteness of the location, these "rigs" may be jack-ups (up to 400 feet of water), or semisubmersibles,...
Discoveries

Partners fast-tracking second Liza FPSO

OilNOW -
ExxonMobil is fast-tracking a second floater project for Guyana’s Liza area development amid suggestions that the next unit will be significantly larger than the 120,000-barrels-per-day Liza-1 unit. According to an Upstream report, plans for a second floating production, storage and...
Exploration

Exxon hit early jackpot by drilling “biggest, best prospects first” – Mc Gehee

OilNOW -
ExxonMobil made the decision to begin drilling for oil in Guyana at the Liza field since this prospect was the biggest and best, based on data analysed by the company. By the time the oil major acquired rights to explore...
Exploration

Africa Oil enters partnership with Eco Atlantic for Guyana, Namibia acreages

OilNOW -
Africa Oil Corp. says it has entered into a strategic partnership with Eco (Atlantic) Oil and Gas Ltd. for exploration in Guyana and West Africa. Under the terms of an investment agreement, AOC has agreed to acquire a 19.77%...
Exploration

Exxon successfully spuds Ranger-1

OilNOW -
ExxonMobil began exploratory drilling operations at the Ranger-1 well site in the Stabroek Block, offshore Guyana on Friday. The Ranger-1 drill site is located approximately 160 nautical miles off the coast of Guyana and covers an area of one square...
Exploration

Tullow shares dip on Araku disappointment

OilNOW -
After being forced to plug and abandon the highly anticipated 1.6-mile deep Araku-1 exploration well in Suriname, Tullow Oil took a 5pc hit to its share price. It is the second major disappointment for the company, which was forced to...
Exploration

Exploratory wells in the Orinduik Block to cost around US$35M

OilNOW -
The cost for exploratory wells in the Orinduik Block is expected to amount to approximately US$35M with Eco Atlantic’s participating interest anticipated to be around US$5.25 Million per well. The company has since entered into an option agreement on the block...
Exploration

US to offer 77 million acres for oil & gas exploration in Gulf of Mexico

OilNOW -
(Energy Business Review) The US Interior Department (DOI) has announced plans to offer 76.9 million acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida in lease sale for oil and gas exploration...
Exploration

Tullow Oil signs exploration contracts offshore Ivory Coast

OilNOW -
(Reuters) Tullow Oil has signed four production-sharing contracts in Ivory Coast with an initial investment of $21 million, an Ivorian government spokesman said on Wednesday. The contracts, which include a 10 percent share for state oil company Petroci, span exploration...
Exploration

Supermajor Chevron eyeing Guyana prospects

OilNOW -
US supermajor Chevron is looking to participate in offshore activities in Guyana, making it the third oil major that views the South American country as a favourable location. Total recently moved towards entering an agreement with Eco Atlantic on the...
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Latest News

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Second Guyana oil auction unlikely before November 2025 elections 

Guyana Vice President Bharrat Jagdeo said Thursday he is doubtful Guyana’s next auction of offshore acreage will happen before...

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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