ExxonMobil Claims More Stabroek Success in Guyana
Exxon Mobil Corp. (NYSE: XOM) on Wednesday reported a new discovery at Longtail-3 in the Stabroek Block offshore Guyana.
Drilled with the Stena DrillMAX drillship, the Longtail-3 well encountered 230 feet (70 meters) of net pay that includes newly identified high-quality hydrocarbon-bearing reservoirs below the original Longtail-1 discovery intervals, ExxonMobil noted in a written statement emailed to Rigzone. The operator added that Longtail-3 is located approximately two miles (3.5 kilometers) south of Longtail-1 in more than 6,100 feet (1,860 meters) of water.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited holds a 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited own 30% and 25% stakes, respectively.
Wednesday’s announcement comes less than two months after ExxonMobil reported another Stabroek discovery: Uaru-2.
“Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate within the Stabroek Block, demonstrating further growth of this world-class resource and our high-potential development opportunities offshore Guyana,” remarked Mike Cousins, ExxonMobil’s senior vice president for exploration and new ventures. “We will continue to leverage our competitive advantages in our ongoing exploration campaign, delivering substantial value to the Guyanese people, our partners, and shareholders.”
In a separate written statement, Hess (NYSE: HES) pointed out that results for the Mako-2 appraisal well confirmed the reservoir’s quality, thickness, and areal extent. The company noted the data, when integrated with Uaru-2 results, support a potential fifth floating production, storage, and offloading (FPSO) vessel east of the Liza complex.
ExxonMobil stated that more than 2,600 Guyanese and 600 local suppliers were supporting its activities in the South American country by the first quarter of 2021.
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