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Sixth major oil discovery offshore Guyana

ExxonMobil’s Stabroek Block concession offshore Guyana.

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.

  • rudeo

    nuff cheese foh nuff bannas

  • StanleyBeresford

    The statement has been proven true throughout all generations ‘ After the darkness comes the dawn” After the darkness of the P.P.P. era, corruption, immorality, drug trafficking, extra judicial killings,mismanagement and incompetence, fraud and outright theft of the nations assets, The dawn has come and the resources of the nation are alighted to a new government to be a good steward of them, and to Govern wisely. May this government be ever mindful that it is righteousness that exalts a nation, and Blessed is the nation whose God is the Lord. These are the guarantees that Prosperity will abound to the Dear Land of Guyana.