Exxon reveals yet more success offshore Guyana
The Longtail-3 adds another discovery to the Stabroek Block offshore Guyana which could prove to be among the last major oil frontiers as transition looms. Longtail-3 was drilled by the Stena DrillMax vessel, pictured above off Gibraltar in May 2020. Presently, six drillships are now operating at the Stabroek block (image credit: Cmspic / Shutterstock)
Exxon Mobil Corporation (NYSE:XOM) revealed yet more impressive exploration results at the Stabroek Block offshore Guyana with its latest discovery well, Longtail-3, measuring some 70 metres of net oil pay.
Oil was notably seen at a lower depth than the previously drilled nearby Longtail-1 well, located some 2 kilometres away.
Westmount Energy welcomes Hess Corp s increased stake in Kaieteur Block We believe this farm-in transaction reflects confidence in the prospective resource potential of the Kaieteur Block and augurs well for the continuing exploration of the area, said Westmount executive chairman Gerard Walsh
Westmount Energy Ltd (LON:WTE) noted that Hess Corporation has increased its interest in the Kaieteur Block, offshore Guyana, to 20% from 15%.
Hess has acquired its additional working interest (WI) from Cataleya Energy.
It follows the drilling of the Tanager-1 well back in November when it made a discovery, deemed as non-commercial on a standalone basis.
London-listed Westmount’s interest in the project is indirect, via shareholdings in minority partners Catelya and Ratio Petroleum (5.3% and 0.04% respectively).
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