ExxonMobil Announces Sixth Oil Discovery Offshore Guyana
January 05 2018 - 9:00AM
Business Wire
- Ranger-1 well encounters approximately
230 feet of high-quality, oil-bearing reservoir
- Well is located approximately 60 miles
northwest of Liza phase one project
- Discovery provides a new play concept
for the 6.6 million acre Stabroek Block
Exxon Mobil Corporation (NYSE:XOM) announced today 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.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: 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 oil-equivalent barrels” include
quantities that are not yet classified as proved reserves under SEC
rules but that we believe will ultimately be produced.
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