Comparing the fiscal regimes of other offshore producers, Guyana’s is on the higher end, says Rystad Energy, an independent energy research and business intelligence company. In its latest analysis, Rystad found that the government’s take amounts to 59% of total...

Given its projections for strong cash flow growth and quarterly earnings totaling US$667 million, Hess Corporation disclosed that it intends to complete a massive share repurchasing programme by year-end worth US$650 million. During its recent Q2 earnings release, Hess...

John Hess, Chief Executive Officer (CEO) of Hess Corp. announced to investors that the front-end engineering and design (FEED) work for ExxonMobil’s fifth development in the Stabroek Block is already underway. “As for our fifth development at Uaru-Mako, the operator  anticipates submitting the...

Hess Corporation reported on Wednesday that its capital and exploratory expenditure for the second quarter of 2022 totaled US$622 million compared with US$429 million in the prior year’s quarter. The company said this is primarily due to higher drilling...

ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...

The Payara project, ExxonMobil’s third development in Guyana’s offshore Stabroek Block is 80% complete, according to President and Chief Operating Officer of Hess Corporation, Greg Hill. Topside fabrication/installation is currently being undertaken aboard the Prosperity floating production, storage and offloading...

Notwithstanding a major slowdown in 2020 because of the pandemic’s global demand destruction, drilling and completion activities in South America are expected to bounce back significantly this year. The driving forces will be increased activities in Guyana and neighbouring Brazil,...

Hess Corporation, which has a 30% Working Interest in Guyana's Stabroek Block, released its 25th annual sustainability report on Monday. According to Chief Executive Officer (CEO), John Hess, this publication demonstrates its longstanding commitment to environmental and social sustainability...

Guyana’s Natural Resources Minister Vickram Bharrat told Members of Parliament last week that the change of government in a country should not result in instability and lack of predictability, particularly regarding agreements that were in place and on which...

Tullow Oil is preparing to submit drilling commitments to the Government of Guyana for the Orinduik Block. In a release shared by Orinduik's 15%-stakeholder, Eco-Atlantic Oil & Gas, Dr. Michael Green of Align Research said progress is being made on...