Exxon going after 10 massive wells in Stabroek Block this year

Feb 01, 2023 News

Kaieteur News – American oil producer, Hess Corporation recently revealed that 10 massive wells will be drilled in the Stabroek Block this year.

Providing the details on this was Hess’ Chief Operating Officer (COO), Greg Hill. During his company’s fourth quarter earnings call, Hill said approximately 10 exploration and appraisal wells will be pursued by operator, Esso Exploration and Production Guyana Limited (EEPGL). He said these wells will target a variety of prospects and play types. He said they will include lower risk wells near existing discoveries and several penetrations that will test deeper intervals.

With regard to upcoming wells, he said operations are continuing at the Tarpon Fish-1 well, approximately 43 miles northwest of the Liza-1 well.

Another well of interest he said is called Lancetfish-1. Hill said it is a deep play exploration well, located approximately 2.5 miles northeast of the Fangtooth Southeast-1 well. He said drilling operations are underway on the Noble Don Taylor drillship.

Beyond that, Hill shared that there is a well called Basher, which will target a deep prospect in the Fangtooth ar

Stabroek Block

ea and another which will penetrate an updip upper campaigning prospect east of Barreleye discovery made April last year.

Hill recalled that the Fangtooth well was one of the earliest and most successful indications of significant oil resources being trapped 18,000 feet deep in the Stabroek Block.

He further noted that the Fangtooth Southeast-1 well, located approximately 8 miles southeast of the original Fangtooth-1 discovery, was supposed to be an appraisal well but the penetration was so phenomenal that it had to be recorded as an independent discovery.

Kaieteur News had reported that the Fangtooth Southeast-1 well encountered approximately 200 feet of oil-bearing stand stone reservoirs and was drilled to 5,397 feet of water.

Hill said, “Fangtooth was our first standalone deep exploration prospect on the Stabroek Block and this area has the potential to underpin a future oil development.”

Hill said Hess and Stabroek Block partners, ExxonMobil and CNOOC Petroleum Guyana Limited are excited about their future in Guyana as they already have a line of sight to six floating production storage and offloading vessels (FPSOs).

The COO said the company’s financial priorities are to continue to allocate capital to high-return low cost investment opportunities in Guyyana, to keep a strong cash position and balance sheet, grow the dividend, and increase share repurchases.

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Esso Exploration and Production Guyana Limited, Greg Hill, Hess Corporation, Stabroek Block

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