ExxonMobil Says Second Well Offshore Guyana Confirms Significant Oil Discovery
June 30 2016 - 8:00AM
Business Wire
- Potential recoverable resource of 800
million to 1.4 billion oil-equivalent barrels
- Well is second on 6.6-million acre
Stabroek block and drilled to 17,963 feet
- Test confirms high-quality oil
Exxon Mobil Corporation (NYSE:XOM) today said that drilling
results from the Liza-2 well, the second exploration well in the
Stabroek block offshore Guyana, confirm a world-class discovery
with a recoverable resource of between 800 million and 1.4 billion
oil-equivalent barrels.
“We are excited by the results of a production test of the
Liza-2 well, which confirms the presence of high-quality oil from
the same high-porosity sandstone reservoirs that we saw in the
Liza-1 well completed in 2015,” said Steve Greenlee, president of
Exxon Mobil Exploration Company. “We, along with our co-venturers,
look forward to continuing a strong partnership with the government
of Guyana to further evaluate the commercial potential for this
exciting prospect.”
The Liza wells are located in the Stabroek block approximately
120 miles (193 kilometers) offshore Guyana. Data from the
successful Liza-2 well test is being assessed.
The Liza-2 well was drilled by ExxonMobil affiliate Esso
Exploration and Production Guyana Ltd., approximately 2 miles (3.3
km) from the Liza-1 well. The Liza-2 well encountered more than 190
feet (58 meters) of oil-bearing sandstone reservoirs in Upper
Cretaceous formations. The well was drilled to 17,963 feet (5,475
meters) in 5,551 feet (1,692 meters) of water.
“This exploration success demonstrates the strength of our
long-term investment approach, as well as our technology leadership
in ultra, deepwater environments,” said Greenlee.
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 oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is the largest refiner and marketer 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.
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