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Hess sells off interest in Utica shale to help fund Guyana, Bakken projects

OilNOW -
Hess Corporation (NYSE:HES)  announced on Friday that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. “We continue to focus our...
News

Third drillship for Guyana waters as 500 mmbl more added to bounty

OilNOW -
Country Manager of ExxonMobil Guyana, Rod Henson, says the eighth oil find offshore Guyana leading to the addition of more than 500 million barrels of oil to the current estimated recoverable reserves which exceed 3.2 billion barrels will see...
News

ExxonMobil makes 8th discovery in Guyana

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) said on Wednesday it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. ExxonMobil encountered approximately 256 feet (78 meters)...
News

Report: Guyana’s deepwater areas will remain competitive, despite changes to fiscal terms

OilNOW -
Guyana's deepwater investment climate is expected to remain regionally competitive over the next five years, despite the South American country's plans to adjust its upstream fiscal regime and to establish a national oil company (NOC). A report released on May...
Opinions

Letter-to-the-Editor: Importance of sharing accurate information on Guyana’s burgeoning oil and gas industry

OilNOW -
Dear Editor In an article that appeared in the Kaieteur News on Sunday, June 10, which quoted Charles Ramson Jr., it was suggested in the report that the GYD$10B spent in Guyana with local companies is minuscule. The article was...
News

Guyana told: Petroleum revenues volatile; prepare for shocks – Norwegian Economist

OilNOW -
Guyana continues to receive advice from experts in the field of revenue management who point to the vital importance of establishing a Sovereign Wealth Fund (SWF) with strong fiscal rules in order to effectively manage the billions of US...
News

TechnipFMC seeking multiple services for Guyana operations

OilNOW -
ExxonMobil Guyana Tier 1 contractor, TechnipFMC, is inviting companies to submit Expressions of Interest (EOI) for a number of upcoming opportunities in the South American country. The company is in search of logistics, procurement and transportation services, inclusive of ground...
News

Political partisanship ‘biggest mistake’ for Guyana’s Sovereign Wealth Fund – former MP

OilNOW -
A former Member of Parliament (MP) in Guyana believes that political partisanship poses the greatest threat to the establishment and effective management of a Sovereign Wealth Fund (SWF) in the soon-to-be oil producing South American country. Delivering a presentation on...
News

Local content expert says policy must capture capabilities of Guyanese workforce

OilNOW -
Rene Roger Tissot, an energy and development economist specializing in local content policies and strategies says Guyana should have a plan in place to develop the capabilities of its people before commercial oil production comes on stream. One way...
News

World Bank, Guyana gov’t stage high-level workshop on Sovereign Wealth Fund

OilNOW -
The World Bank and Government of Guyana staged a high-level workshop on Stabilization/Sovereign Wealth Funds on Monday in the South American country’s capital, Georgetown, as part of a number of initiatives being taken to enhance knowledge and understanding of...
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Letter-to-the-Editor: Guyana’s oil and gas sector is experiencing responsible growth

Dear Editor, I am constantly engaged with reports across a range of industries—none more prominent in recent years than the...

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