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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. Commenting on the Ranger-1 discovery, Guyana Minister of Natural Resources, Raphael Trotman said that: This is a most historic discovery for Guyana. Source: ExxonMobil.

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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Liquids represented 57% of the reserves, up from 53% in 2016. Other significant new proved reserve additions were made in Guyana, where the company funded the first phase of development last year, and in Mozambique, associated with the project funding of the Coral FLNG project in the gas-rich deepwater Area 4.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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