Hess Corporation, a co-venturer in the Stabroek Block offshore Guyana, announced a new oil discovery at the Lancetfish-1 well today in its 2023 first-quarter report. According to Hess, the well encountered approximately 92 feet of oil-bearing sandstone reservoir, and was drilled in 5,843 feet of water by the Noble Don Taylor. The Lancetfish-1 well is located approximately 4 miles southeast of the Fangtooth discovery and is part of a 25-well exploration campaign to be executed over a two-year period.
In its release, Hess also reported that the Kokwari-1 exploration well, drilled during the first quarter of the year, did not encounter commercial quantities of hydrocarbons.
The company has a 30% stake in the Stabroek Block, where ExxonMobil is the operator with a 45% interest, and CNOOC holds a 25% stake.
In January, its Chief Executive Officer (CEO) John Hess announced that the Stabroek Block co-venturers intend to drill 10 exploration and appraisal wells in 2023. The company also noted that it continues to see multibillion barrels of additional exploration potential on the Stabroek Block during its 2022 third-quarter earnings call.
Nine commercial discoveries for 2022 was announced by ExxonMobil in January this year, which led to 2022 being dubbed as the Stabroek Block’s best exploration year by Hess. The company had also announced a significant discovery at the Fangtooth SE well in January. This discovery followed the Fangtooth-1 discovery that was announced in 2022.
