Exxon Mobil Reports Oil Discovery Off Guyana
06 January 2018 - 2:33AM
Dow Jones News
By Chris Wack
Exxon Mobil Corp. (XOM) on Friday said it made another positive
oil discovery off the coast of Guyana.
The Ranger-1 well, located about 60 miles northwest of the Liza
phase one project, encountered about 230 feet of high-quality,
oil-bearing reservoir, providing a new play concept for the
6.6-million acre Stabroek Block, Exxon said.
This find is Exxon's sixth oil discovery off Guyana's coast
since 2015. Exxon's Esso Exploration & Production Guyana Ltd.
affiliate began drilling the Ranger-1 well Nov. 5, 2017.
Esso Exploration operates the Stabroek Block and holds a 45%
interest. Hess Corp.'s (HES) Hess Guyana Exploration Ltd. holds a
30% interest, while CNOOC Nexen Petroleum Guyana Ltd. holds the
other 25%.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 05, 2018 10:18 ET (15:18 GMT)
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