Exxon keeps returning to Fangtooth discovery area

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The dual-activity dynamically positioned (DP3) drillship, Stena Carron, is undertaking operations in the deep waters off the Guyana coast in the ExxonMobil-operated Stabroek Block where a 7th development is being targeted.

Guyana’s Maritime Administration Department (MARAD) said in a May 9 notice that the rig will continue drilling operations at the Fangtooth-1 Well site situated approximately 102.5 nautical miles (189.9 kilometers) offshore, covering an area of 0.29 square nautical miles (1 square kilometer). MARAD said Well testing activities will be undertaken during the period May 10-25.

Exxon keeps coming back to the Fangtooth area, which strongly suggests that its results continue to be promising.

ExxonMobil made a discovery of approximately 164 feet (50 metres) of high-quality oil-bearing sandstone reservoirs in 2022, and another discovery this year of 200 feet of oil-bearing sandstone reservoirs at the Fangtooth SE-1 well approximately eight miles southeast of Fangtooth-1. 

In January, Hess Corporation, a 30% stakeholder in the Stabroek Block, announced that the co-venturers are targeting Fangtooth as its seventh Stabroek Block development.

Schreiner Parker, Rystad Energy’s Vice President for Latin America and the Caribbean, said the Norway-based independent energy research and business intelligence company estimates that Fangtooth holds approximately 230 million barrels of oil equivalent.

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