Guyana ///

Exxon and its partners log new discovery at Longtail-3 offshore Guyana

“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,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.

Guyana-Suriname basin: Rise from obscurity to super potential

Thomas Cool, Lumay Viloria, Endeavor Management

The challenge now facing operators in this promising region is to transition from an exploration/appraisal mode to best practices for development and production.

Maersk Drilling awarded one-well exploration contract for Maersk Discoverer

Maersk Drilling has been awarded a one-well contract by CGX Resources Inc., operator and joint venture partner with Frontera Energy Guyana Corp, for the semi-submersible rig Maersk Discoverer to perform exploration drilling in the Corentyne Block offshore Guyana.

Fugro awarded PETRONAS contract for positioning services in Guyana-Suriname basin

The 2-year contract involves Fugro’s Starfix precise positioning solution to help ensure safe and efficient transit, anchoring and drilling activities for the programmer’s semi-submersible rig and support vessels.

Hess sells Gulf of Mexico Shenzi interest to BHP for $505 million

“Proceeds will be used to fund our world class investment opportunity in Guyana,” CEO John Hess said. “This sale is aligned with our strategy to preserve cash and preserve the long term value of our assets in the current low oil price environment.”

Hess strikes deepwater oil offshore Guyana

Hess Corporation announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.

Ocean Infinity completes AUV-based seismic acquisition offshore Guyana

The project involved acquiring high-resolution geophysical and geotechnical data through the simultaneous deployment of multiple Autonomous Underwater Vehicles (AUV), in water depths of between 70m and 2150m over an area of approximately 3,100 square km.

Exxon resumes drilling offshore Guyana amid travel bans and political drama

The company confirmed that the Stena Carron and Noble Tom Madden vessels returned to full operations last month. The rigs had been shut when the country of less than a million closed its borders after the pandemic hit South America.

Hess cuts CAPEX and exploration budget by $800 million, focuses on Guyana

The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six-rig program to one rig in the Bakken, which is expected to be completed by the end of May. Most discretionary exploration and offshore drilling activities, excluding Guyana, will also be deferred.

Daily Brief podcast, Monday, March 2nd

In today's episode, oil climbs on signs that market intervention may be near, Guyana holds an election critical to its energy future, and more.

Ampelmann enters Guyana with SBM Offshore contract

In a contract with SBM Offshore, the company assisted the hook-up and commissioning of their FPSO.

Guyana’s election to decide who controls the nation’s oil boom

Control of the world’s fastest-growing economy and its massive offshore oil fields are up for grabs Monday as Guyana votes in national elections.

Tullow to slash jobs, close offices after poor Africa and Guyana results

Tullow Oil will reduce its headcount in Kenya by about 40% as part of a company-wide restructuring following poor performances at its Africa and Guyana operations.

ExxonMobil’s latest discovery raises Guyana recoverables above 8 billion barrels

ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices.

Hess dodges shale decline, leads S&P 500 via ‘fairy tale’ Guyana find

Hess rose above the carnage in shale stocks with a more traditional approach to oil exploration – partnering in a massive offshore discovery in a frontier nation.

Tullow slumps as Guyana oil find is smaller than expected

The independent oil producer’s first discovery of the new year comes after a calamitous 2019 in which its stock declined 64% and the chief executive officer and exploration chief stepped down.

ExxonMobil and partners discover more oil in Stabroek block offshore Guyana

ExxonMobil and its partners announced another oil discovery on the Stabroek Block offshore Guyana, southeast of the Liza Field. The discovery adds to the current gross recoverable resource estimate of more than 6 Bboe.

FPSO Liza Destiny producing offshore Guyana

SBM Offshore announced that FPSO Liza Destiny has produced first oil as of December 20, 2019 and is formally on hire. The FPSO is installed at the Liza field, which is located circa 200 km offshore Guyana in the Stabroek block.

Oil boom begins in Guyana as Exxon lifts first Liza crude

Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 gross bopd in coming months, with the first cargo to be sold within several weeks.