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Monday, June 14, 2021

Koebi-1 fails to deliver commercial crude, but Stabroek bonanza grows

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The success rate at the Stabroek Block offshore Guyana remains unprecedented with significant hydrocarbon resources being found over the last year at previously announced discoveries. Even with disappointment at some of the wells, the overall oil strikes remain on an upward trajectory as exploration and appraisal drilling intensify.

In announcing a new discovery at the Stabroek Block on Wednesday, operator ExxonMobil said it failed to hit pay at the Koebi-1 prospect which was spudded by the Stena Carron rig.

“The Koebi-1 exploration well in the Stabroek block has shown evidence of non-commercial hydrocarbons,” the company said.

The Stena Carron first spudded the Koebi-1 prospect in March in a back-to-back campaign that also included a foray at the Jabillo-1 well in the Canje block. The vessel then underwent a brief period of maintenance before returning to complete the campaign.

But disappointment at Koebi-1 has been overshadowed by the new discovery at Longtail-3, which encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It was drilled in more than 6,100 feet (1860 meters) of water by the Stena DrillMAX.

“Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate within the Stabroek block, demonstrating further growth of this world-class resource and our high-potential development opportunities offshore Guyana,” said Mike Cousins, ExxonMobil’s Senior Vice President of Exploration and New Ventures.

The discovery of oil at deeper intervals at Longtail follows similar success at other wells such as Uaru, Mako and Yellowtail.

In fact, Stabroek Block co-venturer Hess has said a key drilling objective this year is probing deeper geologic intervals where over four well penetrations have already been made.

As Exxon advances its 15-well campaign in the Stabroek Block, it said the Stena DrillMAX will now move to Whiptail-1, while the Noble Sam Croft will continue to support development drilling for Liza Phase 2.

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