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Exxon strikes oil at Lancetfish-1 well

OilNOW -
Hess Corporation on Wednesday announced a new oil discovery at the Lancetfish-1 well on the Stabroek Block, offshore Guyana. The Lancetfish-1 well encountered approximately 92 feet of oil-bearing sandstone reservoir. The well was drilled in 5,843 feet of water by...
News

Ramps says it aims to bolster Guyana’s growth, after cleared of fraud charges

OilNOW -
Ramps Logistics Guyana Inc. (RLG) has been cleared by the Guyana Magistrates’ Court on all charges of fraud, the company said in a release. The matter was brought before the court by the Guyana Revenue Authority (GRA) in October,...
News

Well tests begin at TT’s Ortoire block

OilNOW -
Trinidad’s Touchstone Exploration Inc. said on April 24 that it confirmed the presence of light crude oil at non-commercial rates during the first Royston-1X well production test in the onshore Ortoire block.  Touchstone said in its announcement that five potential...
News

Attracting top offshore players like Chevron key to success Guyana bid round

Shikema Dey -
Chevron has its eyes set on Guyana, as the country’s first licensing round heats up. Norway-based Rystad Energy believes the oil major possesses the wherewithal to bring competition to the ExxonMobil-dominated basin.  Schreiner Parker, Senior Vice President and head of...
News

Latin America delivered 40% more revenue for Halliburton in Q1 2023 

OilNOW -
Halliburton said its Latin America revenue in the first quarter of 2023 was US$915 million, an increase of 40% year over the previous year, due primarily to increased well construction services and stimulation activity in Mexico and Argentina, higher...
News

Guyana gov’t keeping with new reporting obligations for oil wealth

OilNOW -
Guyana’s Minister of Parliamentary Affairs and Governance, Gail Teixeira on behalf of Senior Finance Minister Dr. Ashni Singh tabled a Notification of Receipts to the National Assembly, of all petroleum revenues paid into the Natural Resource Fund (NRF) during...
Exploration

Smaller player looking to bid on big blocks in Guyana basin

OilNOW -
Mid-Atlantic Oil & Gas Inc., which has a 12.5% stake in the Canje deepwater block, has signaled its interest in Guyana’s ongoing licensing round. Its co-founder and director, Edris Kamal Dookie, is quoted in the April 21 edition of Latin...
News

Hess expected to announce lower earnings despite higher revenues  

OilNOW -
Hess Corporation is expected to report lower year-on-year earnings despite higher revenues for the first quarter of 2023 when it releases its financial results on April 26, according to the consensus estimate from analysts at Zack's Equity Research. This oil...
News

Exxon sets eyes on Liberia prospects after quitting in 2017

OilNOW -
Oil major ExxonMobil intends to re-establish itself in Libera's offshore industry - a country it quit in 2017.  This renewed interest was surprisingly sparked by Exxon’s success in South America’s newest addition to the oil game - Guyana, according to...
News

Guyana’s oil boom freeing up finance to catalyse other extractives 

OilNOW -
ExxonMobil’s Stabroek Block operations are not only injecting new life into Guyana’s construction, agriculture, and tourism industries, but its mining sector too. According to Atrium Research Corporation (ARC), a trusted provider of analysis for public equities in North America,...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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