ExxonMobil Corporation disclosed this morning that it made two discoveries at the Whiptail-1 and Whiptail-2 wells in the Stabroek Block.
Whiptail-1 is being drilled in 5,889 feet (1,795 meters) of water by the Stena DrillMAX. Whiptail-2, which is located 3 miles northeast of Whiptail-1, is currently being drilled in 6,217 feet (1,895 meters) of water by the Noble Don Taylor.
The Whiptail discoveries are located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field.
Mike Cousins, Senior Vice President of Exploration and New Ventures at ExxonMobil said the discoveries increase the company’s confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for future development as it continues to evaluate the best sequence of development opportunities within the block.
In his brief remarks, John Hess who heads Hess Corporation which holds a 30 percent working interest in the offshore concession said, “Whiptail is a significant new oil discovery that will add to the discovered recoverable resource estimate of approximately 9 billion barrels of oil equivalent and could underpin a future oil development in the southeast area of the Stabroek Block.”
His company noted in its second-quarter earnings call for 2021 today that drilling is ongoing at the Whiptail-2 well, which is located 3 miles northeast of Whiptail-1 to test deeper targets, and results will be evaluated for future development.
In his statement to the press, Minister of Natural Resources, Vickram Bharrat noted that the two discoveries will add to the previously announced gross discovered recoverable resource estimate for the block. As with discoveries prior, Bharrat said the Government of Guyana foresees this new development increasing the potential for additional floating production storage and offloading vessels (FPSO). He said this is further set to increase the estimated recoverable resource given by the operator, Esso Exploration and Production Guyana Limited (EEPGL).
In this regard, Bharrat said his Ministry and the Petroleum Sector regulatory agencies remain committed to working with all operators, in efforts to expedite their respective drill programmes as they seek the sector’s expansion. Bharrat in conclusion said, “The Government of Guyana welcomes these new discoveries Offshore Guyana and reinforces its commitment to the sustainable exploration and development of Guyana’s Oil and Gas Resources. This we commit to doing with the highest level of compliance and transparency to ensure that the benefits from this sector improve the lives of all Guyanese.”
OTHER DISCOVERIES
The Liza discovery was announced in May 2015. Liza-1 well was the first significant oil find offshore Guyana. It encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 meters) in 5,719 feet (1,743 meters) of water. It is currently producing approximately 120,000 barrels of oil per day via the Liza Destiny FPSO. The Liza Two appraisal well is supporting ExxonMobil and partners’ second project which will see 220,000 barrels of oil being produced during peak period. Liza Phase 2 startup is expected in mid-2022.
The Payara discovery was announced in January 2017 and is the oil giant’s second oil discovery in the Stabroek Block. The Payara- 1 well was drilled in a new reservoir, encountering more than 95 feet (29 meters) of high-quality, oil-bearing sandstone reservoirs. It was safely drilled to 18,080 feet (5,512 meters) in 6,660 feet (2,030 meters) of water.
Other discoveries that followed in 2017 include Snoek , Liza Deep, and Turbot.
In 2018, ExxonMobil made five discoveries: Ranger-1, Pacora-1, Longtail-1, Hammerhead, and Pluma. The following year saw Tilapia-1 becoming ExxonMobil’s 11th oil discovery in the Stabroek Block with Haimara-1 coming in as the 12th oil discovery and Yellowtail as the 13th. The Tripletail-1 discovery and the Mako-1 were made in September and December 2019 respectively.
Last year, Guyana saw three discoveries being Uaru-1, Yellowtail-2, and Redtail-1.
The gross recoverable resource for the Stabroek Block is now estimated to be more than nine billion oil-equivalent barrels.
