Internet Radio

ExxonMobil Announces New Oil Discovery Offshore Guyana

Snoek well encounters more than 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoirs

Well is located about 5 miles southeast of Liza-1 discovery

ExxonMobil continues to evaluate full resource potential of broader Stabroek area

IRVING, Texas – Exxon Mobil Corporation announced Thursday positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara.

The latest discovery at Snoek demonstrates the continued success we have achieved in this technically complex play, which is just part of the significant exploration province offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. commenced drilling of the Snoek well on Feb. 22, 2017 and encountered 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoirs. The well was safely drilled to 16,978 feet (5,175 meters) in 5,128 feet (1,563 meters) of water on March 18. The Snoek well is located in the southern portion of the Stabroek Block, approximately 5 miles (9 km) to the southeast of the 2015 Liza-1 discovery.

Following completion of the Snoek well, the Stena Carron drillship has moved back to the Liza area to drill the Liza-4 well.

“As we continue to evaluate the full potential of the broader Stabroek Block, we are also taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana,” said Greenlee.

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.

ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. 

Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans and schedules and resource  recoveries could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of future commercial negotiations; and other factors. References to “recoverable resources” mean quantities of oil and gas that are not yet classified as “proved reserves” under SEC definitions but that we believe may ultimately be produced.

  • ExPPP_Man

    Good for the nation and the future generations. No longer our children will have to migrate to foreign lands to scrape a living.

    • Col123

      Hey ex KKK guy… how do you define “scrape a living”?…. is that like working in a jail and getting ticked off with the inmates?… and don’t take out your referred frustrations on dem prisoners…

      • ExPPP_Man

        Ah making a suggestion to keep all you pnc freeloaders/robbers outta camp street.

        • Col123

          AB

          • ExPPP_Man

            All you got plenty apartments at Camp street and Mazaruni

          • Col123

            Make sure you get me some weed when they provide me free housing there…

  • ExPPP_Man

    That’s okay man, you are entitled to your opinion.

  • Col123

    Guyanese are a mobile bunch, anchored by hard earned real properties in Guyana…. so some are returning to Guyana and others leaving for various reasons.

  • Col123

    Interesting. Why would Exxon make such claim if it was not true?… your thoughts!…

    • waterman14

      Perhaps you misinterpreted my note. I didn’t say Exxon’s claim was not true. What I said was Exxon did not discover New Oil. It was just an extension of the existing reservoir. In any event, President Granger’s recently appointed oil advisor, Dr, Jay Mangal, should be doing his independent analysis to confirm Exxon’s claim. It’s his job; and it’s normal protocol.

      • Col123

        Thanks… they did not.. I follow.