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Exploration

Deepwater action remains in play offshore Guyana

OilNOW -
Guyana topped the oil discovery charts again in 2019 with the Liza field coming onstream in December and another billion barrels added in the ExxonMobil operated Stabroek licence with some more gas also. The resource estimate for Stabroek was again...
News

Analysis: US oil and gas rig count falls 34 to 398 as Permian collapse extends

OilNOW -
(Platts) The US oil and gas rig count fell 34 to a total of 398 in the week ended May 6, as Permian basin drilling activity continued to decline, rig data provider Enervus said Thursday. Oil rigs again led the...
Opinions

Oil supply between OPEC’s cartelization and new producers such as Guyana

Bobby Gossai, Jr. -
The oil supply market is a complex system with complex rules and multiple interactions among the petroleum exporting countries and non-OPEC countries such as Guyana, which makes the modelling and forecasting of market behaviour a challenging task. The...
News

CGX adjusts Guyana drilling plans but remains confident in potential of strategically positioned blocks

OilNOW -
Canadian-based CGX Energy Inc., operator at the Demerara and Corentyne Blocks offshore Guyana, has been left with no choice but to make adjustments to its 2020 drilling plans due to the effects of the COVID-19 pandemic. In its latest financial...
News

US company aiming to set up tubular fabrication plant in Guyana

OilNOW -
Dril-Quip Inc. and TRINPET Guyana Inc. have entered into a License and Services Agreement that includes the construction of a state-of-the-art tubular fabrication, maintenance and storage facility in Georgetown, Guyana. OilNOW understands the project is scheduled to commence this year with...
News

Producers may need to kill their old loss-making FPSO’s in this downturn – Rystad Energy tells us why…

OilNOW -
The swift oil price crash caused by the COVID-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is...
News

T&T is not the best example for Guyana to follow – Caribbean Economist

OilNOW -
The effects of the COVID-19 pandemic on the oil industry should help Guyana, South America’s newest oil producer, to understand a most valuable lesson — avoid heavy dependence on oil alone and diversify the economy at all costs. This...
News

Achieving carbon emission goals still possible with oil extraction – API Chief Economist

OilNOW -
Since the discovery of large volumes of oil offshore Guyana, and now becoming a producer, the ability to balance this with the country’s low carbon agenda has long engaged the attention of environmentalists, some of whom believe the two...
News

Hess charters 3 supertankers to store oil production

OilNOW -
(Bloomberg) -- Hess Corp. is chartering a trio of supertankers to hold more than half of its North Dakota crude production as rapidly filling storage forces some drillers to curtail output. The U.S. oil explorer said it has enlisted three...
Exploration

Apache spuds 3rd Suriname well as search for more crude intensifies

OilNOW -
Apache Corporation and Total S.A have spudded their third well offshore the South American country of Suriname. The two companies each hold 50% interest in Block 58 where they have made 2 discoveries to date. In the second half of...
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Latest News

NewsOilNOW -

Macaw-1 to kick off Suriname’s offshore exploration drive – Staatsolie 

TotalEnergies will begin drilling the Macaw-1 exploration well in Suriname's Block 64 by mid-May 2025. According to the state-owned...

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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