Growing oil production offshore Guyana is taking even more prominence in the portfolios of the Stabroek Block co-venturers, with Hess’ net Guyana production now being on par with output at its traditionally leading Bakken Shale operations in North Dakota. The...

Hess Corporation reported a net income of US$972 million or US$3.16 per share for the first quarter of 2024, in its April 25 earnings report. This represents a 180% increase over the net income of US$346 million or US$1.13...

Saipem, the Italian energy industry contractor, disclosed a positive net result of 57 million euros for the first quarter of 2024, a turnaround from the breakeven recorded in the corresponding period of 2023.  The announcement came following the approval of...

In a filing with the U.S. Securities and Exchange Commission, Hess Corporation said 375 billion cubic feet of natural gas is estimated to be subject to sales commitments under the Gas-to-Energy project in Guyana.  The Guyana government will utilize the...

The Stena DrillMAX is sailing across the Atlantic, on its way to Newfoundland to assist with an ExxonMobil-led campaign.  The vessel will be used to drill the Persephone wildcat well of Exploration License (EL) 1169. The license area lies in...

Schlumberger Limited (SLB) said it introduced groundbreaking technologies in Guyana, setting a new standard for performance in offshore operations for ExxonMobil, in the Stabroek Block. In an open-water-work campaign consisting of 13 wells, SLB said advanced tools revolutionized the drilling...

SLB, a leading oilfield services company, has announced its first-quarter 2024 results, showing “robust” revenue growth and strategic plans to return US$7 billion to shareholders over the next two years. Commenting, SLB Chief Executive Officer Olivier Le Peuch remarked, “We...

Guyana’s Stabroek Block jumped 38% in overall oil production in the first quarter of 2024, compared to the prior quarter.  In the fourth quarter of 2023, the three ExxonMobil-operated projects (Liza 1, 2 and Payara) collectively delivered 40.3 million barrels...

SBM Offshore said it has secured a US$250 million term loan facility to commence construction work on the Jaguar floating production, storage, and offloading (FPSO) vessel.  The tenor of the bridge loan is twelve months with an extension option for...

Dutch manufacturer Strohm has secured its third and largest ever contract for pipe supply, to be provided for ExxonMobil's 250,000 barrels per day Whiptail development project offshore Guyana.  Strohm will supply its TCP (thermoplastic composite pipe) “Jumper on Demand” for...