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ExxonMobil strikes oil off Guyana again

Jan 07, 2018
2 min read
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U.S. oil major Exxon Mobil has come back with positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on 5 November last year and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 6,450 meters depth in 2,735 meters of water.

“This latest success operating in Guyana’s significant water depths illustrates our ultra deepwater and carbonate exploration capabilities. This discovery proves a new play concept for the 6.6 million acre Stabroek Block, and adds further value to our growing Guyana portfolio,” said Steve Greenlee, president of ExxonMobil Exploration Company.

The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.

ExxonMobil said that additional exploration drilling is planned on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery. The Stabroek Block is 26,800 square kilometers.

Esso Exploration and Production Guyana Limited is operator and holds 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 per cent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 per cent interest.

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