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Why is Exxon drilling, testing a 5th well in the Liza field?

OilNOW -
Drilling and testing of a 5th well in the giant Liza field offshore Guyana is part of a process to accumulate vital data that would aid in the design of a Phase 2 development project set to get underway...
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Oil faces month of mayhem as geopolitical risks proliferate

OilNOW -
(Bloomberg) -- Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. The geopolitical premium has already...
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Liza 5 well test underway; Long Tail next stop for Stena drillship

OilNOW -
US oil major ExxonMobil is set to acquire more data for analysis from the Liza 5 appraisal well in order to broaden its knowledge of the greater Liza resource offshore Guyana. “The Stena Carron is currently drilling Liza 5 appraisal...
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Guyana expected to become less dependent on donor funds when oil begins to flow

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Guyana is less than two years away from becoming a major oil producing economy and Chief Executive Officer of the CARICOM Development Fund (CDF), Rodinald Soomer, said the imminent revenue expected from this development could change the South American country’s...
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In pursuit of oil Guyana remains committed to going green

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As Guyana gears up to become a major oil producer in the region the South American country’s commitment to a green economy can be maintained by pursuing a ‘regenerative model’ of development according to Secretary General of the Commonwealth...
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Guyana on BP’s radar as oil major looks to expand presence in region

OilNOW -
Oil major BP Plc is closely following oil auctions in Brazil, Mexico and other potential offshore investment opportunities in Guyana, Colombia and Suriname in a bid to expand its presence in the region. Rising crude prices and energy reforms in...
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Exxon’s success off Guyana coast fueled Latin America dominance in 2017

OilNOW -
Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...
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Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

OilNOW -
The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...
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Noble reports net loss for Q1 2018; expects fleet utilization to ramp up

OilNOW -
Noble Corporation, the same company contracted by ExxonMobil to drill 17 wells for the Liza Phase 1 development in Guyana, on Wednesday reported a net loss for the three months ended March 31, 2018 of $142 million, or $0.58 per diluted share, on revenues...
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Positive cash flow from Guyana may not come before 2022 – Hess

OilNOW -
Hess Corporation does not expect oil production in the South American country of Guyana where it has a 30% stake in the Stabroek Block, to turn a profit for the company before 2022 when the larger Liza Phase 2...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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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