The search for more oil in Guyana’s Stabroek Block remains at a steady pace with the partners announcing more prospects to be tapped.
Chief Operations Officer and President of Hess Corporation, Greg Hill shared that the partners plan to drill Basher-1, a deep prospect located seven miles west of Fangtooth-1. There is also Lancetfish-1, located two miles southwest of Fangtooth-1.
Hill told investors at Hess’ quarterly earnings conference that plans are also being made to drill the Lancetfish-2 appraisal well, also located in the Fangtooth area.
ExxonMobil – the operator – keeps coming back to the Fangtooth area, which strongly suggests that its results continue to be promising.
Exxon 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. Fangtooth has been identified as the next Stabroek Block development.
Additionally, Hill noted that exploration and appraisal activities are planned for the southeast portion of the Stabroek Block “to better understand the longer-term potential of this area.”
That includes drilling a prospect called Bluefin, located six miles southwest of the Haimara-1 discovery. The find was made in February 2019, encountering approximately 207 feet (63 metres) of high-quality, gas-condensate-bearing sandstone reservoir and was drilled to a depth of 18,289 feet (5,575 metres) in 4,590 feet (1,399 metres) of water.
Hess holds a 30% stake in the Stabroek Block. ExxonMobil is the operator, with a 45% stake. CNOOC holds the remaining 25%.