ExxonMobil Announces Significant Oil Discovery Offshore Guyana
May 20 2015 - 1:13PM
Business Wire
- Liza-1 well encounters more than 295
feet of high-quality oil-bearing sandstone reservoirs
- Well is first on 6.6-million acre
Stabroek Block and drilled to 17,825 feet
Exxon Mobil Corporation (NYSE:XOM) today announced a significant
oil discovery on the Stabroek Block, located approximately 120
miles offshore Guyana.
The well was drilled by ExxonMobil affiliate, Esso Exploration
and Production Guyana Ltd., and encountered more than 295 feet (90
meters) of high-quality oil-bearing sandstone reservoirs. It was
safely drilled to 17,825 feet (5,433 meters) in 5,719 feet (1,743
meters) of water. Stabroek Block is 6.6 million acres (26,800
square kilometers).
“I am encouraged by the results of the first well on the
Stabroek Block,” said Stephen M. Greenlee, president of ExxonMobil
Exploration Company. “Over the coming months we will work to
determine the commercial viability of the discovered resource, as
well as evaluate other resource potential on the block.”
The well was spud on March 5, 2015. The well data will be
analyzed in the coming months to better determine the full resource
potential.
Esso Exploration and Production Guyana Ltd. holds 45 percent
interest. Hess Guyana Exploration Limited holds 30 percent interest
and CNOOC Nexen Petroleum Guyana Limited holds 25 percent
interest.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520006287/en/
ExxonMobilMedia Relations, 832-625-4000
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