Exxon Drills Dud at Bulletwood Offshore Guyana
Latest Canje Block test does not find commercial hydrocarbons. April 1, 2021
Stena Carron.
Data collection from the Bulletwood-1 well confirms the presence of the Guyana-Suriname petroleum system and the potential prospectivity of the Canje Block, said partner Westmount Energy. Bulletwood-1 was the first of three scheduled wells to be drilled on the block in 2021. Wells Jabillo-1 and Sapote-1 are expected to spud over the coming months.
Exxon operates the Canje Block via its Esso Exploration and Production Guyana unit, which has a 35% stake. Total has 35%, JHI 17.5%, and Mid-Atlantic Oil & Gas 12.5. Westmount holds a 7.7% stake in JHI.
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Bulletwood fails to land for Exxon
ExxonMobil’s Bulletwood-1 well offshore Guyana found reservoirs but no commercial hydrocarbons.
Updated: 04/03/2021, 10:22 am
EXPLORATION: The Stena Carron drillship
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ExxonMobil’s Bulletwood-1 well offshore Guyana found reservoirs but no commercial hydrocarbons.
Westmount Energy, which has an interest in the Canje block via JHI Associates, said data collected from the well revealed the Guyana-Suriname Basin petroleum system.
Premium Content
The Guyana-Suriname Basin Could Be The Last Big Oil Boom By Matthew Smith - Feb 01, 2021, 2:00 PM CST
The tiny South American countries of Guyana and Suriname are the focus of Latin America’s latest oil boom. A slew of oil discoveries by ExxonMobil since 2015 in its offshore Guyana Stabroek block which now sees the global energy supermajor estimating that the block contains over eight billion barrels of recoverable oil resources has captured the international oil industry’s attention. This is not only because of the sheer volume of discoveries, but also due to the extremely low breakeven prices, estimated to be $35 per barrel and falling, associated with drilling in offshore Guyana. By some estimates, breakeven prices in the Stabroek block have already fallen below $35 per barrel. The Liza phase two development, which comes online next year lifting production capacity of the Liza oilfield to 340,000 barrels daily, is expected to pump crude oil at a b
By Matthew Smith for Oilprice.com
RIO DE JANEIRO, BRAZIL – The tiny South American countries of Guyana and Suriname are the focus of Latin America’s latest oil boom. A slew of oil discoveries by ExxonMobil since 2015 in its offshore Guyana Stabroek block which now sees the global energy supermajor estimating that the block contains over eight billion barrels of recoverable oil resources has captured the international oil industry’s attention.
This is not only because of the sheer volume of discoveries, but also due to the extremely low breakeven prices, estimated to be US$35 per barrel and falling, associated with offshore drilling there.
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