ExxonMobil to Drill Second Stabroek Well in First Quarter 2016

Exxon Mobil Corp. plans to drill its second well on the Stabroek block offshore Guyana in the first quarter of this year, a company spokesperson confirmed to Rigzone.

The company encountered a 295-foot (90-meter) column of oil and gas-soaked rock in the Liza-1 discovery well, located 120 miles (193 km) offshore and 5,710 feet beneath the sea surface, Bloomberg reported in July. The discovery may hold oil and gas riches 12 times more valuable than Guyana’s entire economic output.

ExxonMobil has not released many details about its 2016 program for Guyana, ExxonMobil spokesperson Lauren Kerr told Rigzone. Tudor, Pickering and Holt analysts noted in their Jan. 8 research note that ExxonMobil and partners Hess Corp. and CNOOC would start a four-well drilling campaign later this month on the Stabroek block.

Karen Boman has more than 10 years of experience covering the upstream oil and gas sector. Email Karen at kboman@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
tommy | Jan. 9, 2016
as a shareholder of xom. i am sure this will be a money maker, and rightnext door to a collapsing socialist nation that woul love to claim this oil.

Related Companies

Our Privacy Pledge

More from this Author
Karen Boman
Senior Editor | Rigzone
 -  BLOG: CEO Says Oil, Gas Companies Fare... (Jul 27)
 -  Anadarko Appraisal Extends Shenandoah ... (Jul 27)
 -  Oil, Gas Companies Tighten Cash Flow a... (Jul 26)
 -  Pompano Gas Production Ramps Up Again (Jul 26)
 -  Statoil Seeks Standardization to Optim... (Jul 25)

Most Popular Articles

From the Career Center
Jobs that may interest you
Rig Medic
Expertise: Rig File Clerk
Location: Houma, LA
Drill Tool Inspector (Level II)
Expertise: Casing|Pipe Inspection / NDT|QA / QC / Inspection
Location: Morgantown, WV
Assistant Research Specialist
Expertise: Drilling Engineering|Geotechnical Engineer|Project Engineer
Location: College Station, TX
search for more jobs

Brent Crude Oil : $43.47/BBL 3.12%
Light Crude Oil : $41.91/BBL 2.35%
Natural Gas : $2.67/MMBtu 1.47%
Updated in last 24 hours