In May last, the Stena Carron drillship had resumed operations and drilled an appraisal Well at the Yellowtail-2 which is one mile southeast of Yellowtail-1. Upon completion of those works, it was found that the Well identified two additional high-quality reservoirs, one adjacent to and the other below the Yellowtail field further demonstrating the world-class quality of this basin. Making this known to the market before ExxonMobil was Hess Corporation which holds a 15 percent working interest in the Stabroek Block.
During its second quarter earnings call yesterday, the company’s Chief Operating Officer (COO), Greg Hill, said that this additional resource is currently being evaluated and will help form the basis for potential future development.
Following the appraisal work that was conducted Hill revealed that the Stena Carron will next move to the Kaieteur Block in which Hess also holds a 15% working interest. The ship will spud the Tanager-1 well, which is located 46 miles northwest of Liza.
As for the Noble Don Taylor, Hill said that it spudded the Redtail exploration Well located approximately 1.4 miles northwest of Yellowtail-1 on July 13, last. Guyana Standard understands that the Well will target similar stratigraphic intervals as Yellowtail and will consist of an original hole and sidetrack and will include an option to conduct the drill stem test in the future. Hill said, too, that the results of Redtail-1 and Yellowtail-2 will be incorporated into the company’s overall evaluation of the Yellowtail area.
In closing, Hill said that Hess continues to focus on strong execution across its portfolio while ensuring the safety of its workforce and the communities where it operates in the midst of the COVID-19 pandemic. He added, “We have taken significant steps in response to the low oil price environment that positioned us to successfully navigate these challenging times and to prosper when oil prices recover.”
