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Exxon prioritizing development wells at Stabroek Block in coming months – Deedra Moe

OilNOW -
US oil major ExxonMobil will be focusing heavily on development drilling at the Stabroek Block offshore Guyana in the coming months. The company has been working to ensure the safety and health of its employees and the crews working offshore...
Exploration

ExxonMobil spent over US$35 million on Guyanese suppliers in Q1 2020

OilNOW -
ExxonMobil Guyana has spent over US$35 million or approximately 7.1 billion Guyana dollars on more than 500 local suppliers in the first quarter of this year. The company said local suppliers remain important to the success of its operations...
News

CAPEX cuts hit US$120 billion across 170 companies – Guyana offshore pushes on

OilNOW -
COVID-19 lockdown measures have brought a sharp drop in global oil and gas demand, with the International Energy Agency estimating that global oil demand could fall by approximately 26 percent this month. GlobalData says the crash in prices - aggravated...
News

Hess reports US$2.4 billion loss – Liza field helps boost production

OilNOW -
Hess Corporation reported Thursday a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020 even as oil production increased due in part to output from the Liza Phase 1 Development offshore Guyana. “Our priorities...
News

Credit Suisse sees 9 development phases at Stabroek Block with production ballooning to more than 1 million bpd

OilNOW -
Zürich-based investment bank Credit Suisse sees potential at Guyana’s Stabroek Block for 9 development phases that would push production well above 1 million barrels of oil per day and expects the resource estimate on the block to further increase...
News

Production at Liza Phase 1 expected to hit 120,000 barrels per day by June – Dr. Bynoe

OilNOW -
Oil production from the Liza Phase 1 Development is expected to reach its full capacity of 120,000 barrels per day by early June according to the Director of the Department of Energy in Guyana, Dr. Mark Bynoe. He told reporters...
News

Oil production offshore Guyana continues but project delays triggered by COVID-19 unavoidable

OilNOW -
Chairman and Chief Executive Officer of Exxon Mobil Corporation, Darren Woods told investors Friday that Guyana remains a key part of the oil major’s long-term growth plans. Although faced with the drop in oil prices and challenges resulting from...
News

Exxon posts quarterly loss of $610 million – Guyana helps boost liquids production

OilNOW -
Exxon Mobil Corporation announced on Friday an estimated first quarter 2020 loss of $610 million, or $0.14 per share assuming dilution, compared with earnings of $2.4 billion a year earlier. Results included a $2.9 billion charge from identified items,...
News

ExxonMobil Guyana continues to take all precautions for COVID-19

OilNOW -
As oil production operations progress at the Liza Phase 1 Development offshore Guyana, ExxonMobil, operator at the 6.6 million acres Stabroek Block, says it continues to take all precautions to safeguard the health of workers. LISTEN TO AUDIO CLIP https://youtu.be/Sh-MgChnM0w  
News

Close to US$55M from Guyana’s 1st oil lift deposited into Federal Reserve Bank account

OilNOW -
The revenue from Guyana’s first oil cargo of 1 million barrels of Liza crude has been deposited into the Natural Resource Fund account held by the Bank of Guyana at the Federal Reserve Bank of New York. The Ministry of...
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TotalEnergies identifies additional wells to sustain GranMorgu plateau production

PARAMARIBO, SURINAME – TotalEnergies has identified additional wells that will be drilled to sustain plateau production at its landmark...

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