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Exxon, Hess find more oil offshore Guyana

Published 02/28/2018, 08:26 AM
© Reuters.  Exxon, Hess find more oil offshore Guyana
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XOM
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  • Exxon Mobil (NYSE:XOM) has made its seventh major oil discovery in the Stabroek block offshore Guyana following drilling at the Pacora-1 exploration well, partner Hess (NYSE:HES) reveals.
  • Pacora resources will be integrated into the third phase of development at the Guyana project, helping bring production to more than 500K bbl/day of oil, Hess says.
  • The Pacora-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep, Turbot and Ranger-1, which are estimated to total more than 3.2B recoverable oil-equivalent barrels.
  • XOM is operator of the 6.6M-acre Stabroek block and holds a 45%, while Hess owns 30% and Cnooc's (NYSE:CEO) Nexen has 25%.
  • Now read: Hess (HES) Presents At Credit Suisse (SIX:CSGN) 23rd Annual Energy Summit - Slideshow


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