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New study reaffirms Stabroek block’s fiscal terms in line with countries sharing similar characteristics

OilNOW -
In its most recent report on Guyana, oil and gas industry analyst Wood Mackenzie says the Stabroek block fiscal terms ranks well compared to several other countries with similar circumstances regarding indicators such as State share, payback period and...
News

Stabroek block consortium looking to move forward expeditiously with Payara once Guyana elections impasse is resolved

OilNOW -
The Stabroek block consortium is looking to move ahead expeditiously with the third development offshore Guyana at Payara once the elections impasse in the South American country is resolved and final approval granted for the project. Speaking on its Q2...
News

Guyana’s first EITI validation set to commence in October

OilNOW -
Even as Guyana prepares for the compilation and publication of its second Extractive Industries Transparency Initiative (EITI) Report for fiscal year 2018, the country is rapidly getting set for its first EITI validation, due to commence in October 2020. Over the...
News

Apache’s Q2 loss narrower than expected, sales top

OilNOW -
(Nasdaq) Apache Corporation reported second-quarter 2020 loss per share — excluding one-time items — of 74 cents, narrower than the Zacks Consensus Estimate of a loss of 99 cents. This better-than-expected result is led by higher-than-anticipated production volumes. Precisely,...
News

ConocoPhillips posts wider-than-expected loss on oil price plunge

OilNOW -
(Reuters) - ConocoPhillips reported a wider-than-expected loss on Thursday, as the oil and gas producer was hit by a plunge in crude prices due to a short oil price war and coronavirus-induced lockdowns that sapped demand for fuel. The pandemic...
News

75% of Stabroek block expected resources still to be developed – WoodMac

OilNOW -
The volume of revenue flows to Guyana and the Stabroek block consortium is dependent on the timely development of oil resources, 75% of which is still to be developed with the Payara project accounting for 16%. The findings of a...
Exploration

Stena Carron to spud Tanager-1 at Kaieteur block

OilNOW -
The Stena Carron drill ship is set to spud the first well on the 3.3 million acres Kaieteur block as operator, ExxonMobil, expands its search for hydrocarbons offshore the South American country of Guyana. The Kaieteur block is located...
News

Yellowtail reservoirs point to world class quality of Guyana basin – Exxon, Dept. of Energy

OilNOW -
The identification of two additional high-quality reservoirs at the Yellowtail-2 well offshore Guyana has further confirmed the world class quality of the basin and the major potential for continued future development of hydrocarbon resources. Both ExxonMobil and the Department of...
News

Apache announces major oil discovery at Block 58 Offshore Suriname

OilNOW -
Third consecutive discovery offshore Suriname confirms a world-class hydrocarbon resource Kwaskwasi-1 well encountered 278 meters (912 feet) of net oil and volatile oil / gas condensate pay. Fourth exploration prospect in Block 58, Keskesi East-1, will be drilled...
News

Wood Mackenzie: What would a Joe Biden win mean for oil and gas?

OilNOW -
With analysis from Julie Wilson, Research Director Global Exploration, Ed Crooks, Vice-chair, Americas and Rowena Gunn, Research Analyst Joe Biden is edging ahead in the race for the White House. The latest average of polls, as of 24 July, suggests that 50% of Americans...
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Improvements in infrastructure, productivity pushing Guyana’s non-oil GDP – IMF

Guyana’s oil sector is projected to account for a slightly smaller share of the country’s economy in 2025 for...

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