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Exxon moving to develop Payara by 2023; Guyana oil production could hit 450,000 bpd

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Exxon Mobil Corporation could sanction its third development project offshore the South American country of Guyana as early as 2023. The company’s Vice President of Investor Relations and Secretary, Jeffrey Woodbury told participants during its fourth quarter earnings call...
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Ranger-1 gives ExxonMobil new insight into Stabroek Block potential

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ExxonMobil’s recent oil discovery at the Ranger-1 reservoir offshore Guyana is particularly significant because it demonstrates that potentially significant commercial quantities of crude is contained in a different type of play on the Stabroek Block. The estimated total 3.2 billion...
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Exxon announces US$19.7B earnings for 2017

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Exxon Mobil Corporation announced on Friday its estimated 2017 earnings of $19.7 billion, or $4.63 per share assuming dilution, compared with $7.8 billion in 2016. U.S. federal tax reform in the fourth quarter resulted in a non-cash earnings gain of $5.9 billion,...
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Chevron announces major oil discovery in deepwater Gulf of Mexico

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Chevron Corporation (NYSE:CVX) has made a significant oil discovery at the Ballymore prospect in the deepwater U.S. Gulf of Mexico. Ballymore is located in the Mississippi Canyon area of the U.S. Gulf of Mexico, approximately three miles from Chevron’s Blind...
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UN decision on border controversy first major step towards lasting resolution – Trotman

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Guyana’s Minister with responsibility for the petroleum sector says the recently announced decision of the United Nation’s Secretary General, Antonio Guterres, to refer the decades old border controversy with Venezuela to the International Court of Justice (ICJ) is the...
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Alberta’s oil industry facing perfect storm of awful

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(Hart Energy) A funk has settled over the Alberta oil industry as low prices, pipeline system constraints, storage shortfalls, and limited rail shipping have combined in a perfect storm that is costing producers millions of dollars every day. While the...
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Shell sweeps nine of 19 blocks awarded in Mexico oil auction

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(Reuters) - Royal Dutch Shell (RDSa.L) snapped up nine of 19 Gulf of Mexico oil and gas blocks awarded in a Mexican auction on Wednesday, as the global oil major raised its big bet on Latin America’s deep waters. Mexican...
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Israel, Lebanon renew spat over disputed oil-and-gas territory

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(Bloomberg) Lebanon’s prime minister and other senior figures in the country’s government reacted angrily to comments by an Israeli official once again laying claim a disputed maritime area said to be rich in oil and gas. International oil companies are...
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BP announces two North Sea discoveries

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Energy giant BP has announced two new North Sea oil and gas discoveries. Tests have been carried out to discover how much oil and gas is present, with the data currently "under evaluation". The finds - in the Capercaillie and Achmelvich...
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2018 E&P Budget: Hess allocates hundreds of millions for exploration, development in Stabroek Block; says opportunities getting ‘bigger and better’

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Hess Corporation (NYSE:HES) today announced its 2018 E&P capital and exploratory budget will be $2.1 billion, the same as 2017. The 2018 budget allocates increased capital for continuing exploration and development activities offshore Guyana and for the Bakken, which includes growing the rig...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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