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Hess Q4 earnings jump to US$624 million, as Guyana projects sales hike

OilNOW -
Hess Corporation – a 30% stakeholder in Guyana’s Stabroek Block – reported fourth-quarter earnings of US$624 million or $2.03 per common share compared to net income of US$265 million, or $0.85 per common share, in the same period last...
Discoveries

Exxon strikes more oil at Fangtooth well offshore Guyana 

Shikema Dey -
Fangtooth is the reservoir that keeps on giving as Stabroek Block operator ExxonMobil hit pay once again, early this month. The announcement was made by its partner Hess Corp on Jan. 25.  According to Hess, Exxon made a “significant” oil discovery...
News

Guyana, Bakken to eat up 80% of Hess US$3.7 billion 2023 budget

Shikema Dey -
Hess’ Guyana and Bakken projects will take the majority share of its US$3.7 billion 2023 exploration and production, capital and exploratory budget. “More than 80% of our 2023 budget is allocated to Guyana, which is positioned to be one of...
News

Early statements show Noble earned US$140-150 million in Q4 2022

OilNOW -
Noble Corporation said its earnings for the fourth quarter of 2022 are expected to be between US$140 million and US$150 million. This was revised downward from the previous outlook of US$155 million and US$175 million. The reduction is primarily...
News

First draft of Guyana’s new model PSA expected in February

Shikema Dey -
Come February 2023, Guyana will make public the first draft of its new model Production Sharing Agreement (PSA), said Finance Minister, Dr. Ashni Singh. “We have announced the main elements of a new fiscal framework, which will form the basis...
News

Exxon’s 5th Guyana project represents ‘bold bet on the oil market’s future’ – The Motley Fool

OilNOW -
US-based private financial and investment company, The Motley Fool, says ExxonMobil’s fifth development project off the coast of Guyana is a clear indication of the major’s confidence in the oil market. The Uaru development, set to deliver first oil in...
News

Guyana Prime Minister pegs cost of Gas-to-Energy project at US$1.8 billion

OilNOW -
Guyana’s Prime Minister, Mark Phillips has informed the country’s Parliament that the landmark Gas-to-Energy project will cost approximately US$1.8 billion. In providing a breakdown of the project costs, Phillips said the pipeline cost is US$1 billion, which includes the entire...
News

Schlumberger to reapply for environmental permit to operate Houston facility

OilNOW -
ExxonMobil Guyana’s prime contractor, Schlumberger (SLB), is required to resubmit an application for environmental authorisation to operate its Houston, East Bank Demerara source storage and calibration facility. This was confirmed to OilNOW by the head of the Environmental Protection Agency...
News

Exxon wrapped up Guyana operations in 2022 with 11.5 million barrels in December

Kemol King -
Closing out 2022, ExxonMobil produced 11.5 million barrels of oil from the Stabroek Block Liza projects, averaging 371,400 barrels per day (bpd). From Liza Phase 1, the Liza Destiny floating production, storage, and offloading (FPSO) vessel extracted 4.286 million barrels,...
News

Bayphase, Stratoil Energy shortlisted to bid for review of Exxon’s Uaru project

OilNOW -
Guyana’s Ministry of Natural Resources has shortlisted Bayphase and Stratoil to vie for the contract to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru. Initially, the list had stood at three, but De Godhyer...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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