Exxon’s Big Bet On Guyana Is Starting To Pay Off

Exxon’s Big Bet On Guyana Is Starting To Pay Off

After commencing exploration drilling in offshore Guyana in 2015 the world’s second largest publicly listed oil company by market cap ExxonMobil experienced stunning success. In little more than six years Exxon has made 22 high-quality oil discoveries in the 6.6-million-acre Stabroek Block, the latest being at the 5,938 feet Pinktail well, located nearly 22 miles to the southeast of the Liza phase 1 development. Hess, Exxon’s partner, with a 30% interest in the Stabroek Block announced the successful appraisal of the Turbot oil discovery in the block at the 5,790 feet Turbot 2 well 37 miles to the southeast of Liza phase 1.

Stabroek Block Oil Discoveries