Sixth major oil discovery offshore Guyana by ExxonMobil

Sixth major oil discovery – Exxon announces largest oil find to date in Stabroek block

IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) announced Thursday positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.

The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.   

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on Nov. 5, 2017 and encountered approximately 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 21,161 feet (6,450 meters) depth in 8,973 feet (2,735 meters) of water.

“This latest success operating in Guyana’s significant water depths illustrates our ultra deepwater and carbonate exploration capabilities,” said Steve Greenlee, president of ExxonMobil Exploration Company. “This discovery proves a new play concept for the 6.6 million acre Stabroek Block, and adds further value to our growing Guyana portfolio.”

Following completion of the Ranger-1 well, the Stena Carron drillship will move to the Pacora prospect, 4 miles from the Payara discovery. Additional exploration drilling is planned on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery.

The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

Sixth oil find is a historic discovery for Guyana Minister Trotman

Published on Jan 5, 2018

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Comments

  • Naraine  On 01/06/2018 at 12:00 pm

    We always thought that oil was always within Guyana’ s boundaries within and in the Atlantic.
    With this boon, hopefully there is now a decrease in crime.

  • Denise  On 01/06/2018 at 5:14 pm

    Crime has already been decreased based on the latest report from the Government and it has nothing to do with the oil discovery. This government has enforced proper policing and is still working diligently to root out corruption in the police force….something that was rampant during the previous government.

    The oil discovery will, hopefully, put in the necessary infrastructure right across the country which will provide all the necessities that the people need to uplift their standard of living.. build proper hospitals and schools, pay better wages to the police, teachers, nurses, and doctors. Create jobs for thousand of people during the rebuilding of the infrastructure of the country; provide proper electricity and water to the masses.
    The list is endless as to what the government can do with such a windfall of billions of dollars. Hopefully, this government will see to the things that are needed to be done in order to move Guyana onward and upward.

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