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Exploration

Exxon successfully spuds Ranger-1

OilNOW -
ExxonMobil began exploratory drilling operations at the Ranger-1 well site in the Stabroek Block, offshore Guyana on Friday. The Ranger-1 drill site is located approximately 160 nautical miles off the coast of Guyana and covers an area of one square...
News

Hess captures leadership status in CDP’s Global Climate Analysis

OilNOW -
Hess Corporation (NYSE:HES) has been recognized for climate change stewardship, achieving leadership status in CDP’s 2017 Global Climate Analysis. Hess is the only U.S. energy company to achieve leadership status. This is the ninth consecutive year that Hess earned this...
News

Oil production in Guyana could hit 400,000 bpd by 2026 – WoodMac

OilNOW -
Industry analyst Wood Mackenzie believes oil production in Guyana could reach as high as 400,000 barrels per day by 2026 as multiple phases of development and production come on stream. Pablo Medina, Wood Mackenzie`s senior analyst, Latin America, said ExxonMobil’s fifth...
Opinions

Oil exploration is high cost, high risk

OilNOW -
One of the riskiest businesses is oil and gas (O&G) exploration. The risk climbs exponentially if it is taking place in a virgin basin, not yet proven its commercial potential. O&G projects are by nature risky ventures due to...
News

CNOOC’s Q3 revenues up 16.9 %

OilNOW -
CNOOC announced on October 25 that for the third quarter of 2017 unaudited oil and gas sales revenue for the company reached approximately RMB 35.94 billion, an increase of 16.9 percent over last year. The company reports that this...
News

CNOOC Nexen and Guyana discuss collaboration, future plans

OilNOW -
The relationship between the Government of Guyana and China National Offshore Oil Company (CNOOC) Nexen advanced further on Wednesday when a meeting was held between Raphael Trotman, Guyana’s Minister of Natural Resources and representatives of the company in Guyana. CNOOC...
Discoveries

Liza 1 discovery was intentionally “downplayed” in lead-up to Guyana elections – former minister

OilNOW -
The biggest offshore oil discovery in 2015 and the first of its kind in the South American country of Guyana was intentionally downplayed in the weeks leading up to the country’s May 11, 2015 national elections. While the magnitude of...
News

Hess suffers $624M loss in 3rd quarter 2017

OilNOW -
Hess Corporation (NYSE: HES) today reported a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017 compared with a net loss of $339 million, or $1.12 per common share, in the third...
News

Hess exiting Norway and Denmark

OilNOW -
Hess Corporation (NYSE: HES) announced on Monday several additional steps in what the company says is the continued execution of its strategic plan to further focus its portfolio and allocate capital to higher return assets: An agreement to sell its...
News

Guyana oil reserves hover around 3 billion barrels with more discoveries expected

OilNOW -
With no proven oil reserves just over two and a half years ago, Guyana now has approximately 3 billion barrels of recoverable oil and this number is expected to further increase as the hunt for more petroleum intensifies. The country’s...
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Latest News

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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...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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