New Find in Offshore Guyana Increases Estimated Recoverable Resource by 8 Bboe

Drilling Activity Details



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Another Guyana discovery was announced by Exxon Mobil Corp. According to the Irving, Texas-based company, the new find increases its estimated recoverable resource base in offshore Guyana to more than 8 Bboe. The new well, #1-Uaru, hit about 94 ft of high-quality, oil-bearing sandstone reservoir. It was drilled in 6,342 ft of water and is about 10 miles northeast of Liza Field. The #1-Uaru adds approximately 2 Bboe to the previously estimated reserves on the block. A fifth drillship is expected to be deployed later in 2020. The Stabroek Block is 6.6 million acres. Exxon Mobil is the operator and holds 45% interest in the block along with Hess Corp. (30%) and China National Offshore Oil (25%).