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ExxonMobil announces significant oil discovery at Whiptail, offshore Guyana

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ExxonMobil said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. The Liza Destiny floating production storage and offloading (FPSO) vessel is currently producing about 120,000 barrels of oil per day.

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ExxonMobil discovery at Uaru-2 offshore Guyana; block recoverable resource estimate upped to 9B barrels oil-equivalent

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ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels. Hess Guyana Exploration Ltd.

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ExxonMobil greenlights Liza development in offshore Guyana; $4.4B Phase 1 investment

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Exxon Mobil Corporation will proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. billion oil-equivalent barrels, which includes Liza and other successful exploration wells on Liza Deep, Payara and Snoek. Hess Guyana Exploration Ltd.

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

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. ExxonMobil’s reserves life at current production rates is 14 years. billion gross oil-equivalent barrels prior to the 2018 Ranger discovery. Resource Base.

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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

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For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. ExxonMobil and its partners started production of oil at the Liza field in December 2019, less than five years after the first discovery of hydrocarbons and years ahead of industry average.