{"id":256,"date":"2024-05-14T16:50:18","date_gmt":"2024-05-14T16:50:18","guid":{"rendered":"https:\/\/energyguyana.gy\/?p=256"},"modified":"2025-05-03T15:14:45","modified_gmt":"2025-05-03T15:14:45","slug":"exxon-starts-seven-well-surge-targeting-new-stabroek-block-reserves","status":"publish","type":"post","link":"https:\/\/energyguyana.gy\/index.php\/2024\/05\/14\/exxon-starts-seven-well-surge-targeting-new-stabroek-block-reserves\/","title":{"rendered":"Exxon Starts Seven-Well Surge Targeting New Stabroek Block Reserves"},"content":{"rendered":"\n

Positive drilling results in 2024 will catapult Guyana\u2019s proven energy resources to new heights<\/h2>\n\n\n\n

ExxonMobil Guyana is strategically advancing its comprehensive seven-well exploration and appraisal campaign for 2024. Company President Mr. Alistair Routledge asserted in February that the initiative is a pivotal part of the company\u2019s approved 35-well campaign spanning several years, targeting increased reserves to unlock value for Guyana and the shareholders of the Stabroek Block partners.
The 2024 exploration effort includes two wells of particular interest\u2014Trumpetfish and Redmouth\u2014situated west of the established Liza and Payara projects. ExxonMobil has intentionally positioned these wells closer to the central region of the Stabroek Block, a departure from its previous drilling activities concentrated on the southeastern side of the Block. This strategic move aligns with the company\u2019s broader \u2018anchor hunting\u2019 strategy, a targeted approach to identify new reserve bases for standalone development projects.<\/p>\n\n\n

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President of ExxonMobil Guyana, Mr. Alistair Routledge<\/figcaption><\/figure>\n<\/div>\n\n\n


Routledge\u2019s announcement aligns with Chevron\u2019s Chief Executive Officer Mr. Mike Wirth\u2019s disclosure that ExxonMobil Guyana might drill up to 12 wells in 2024. Wirth commented on the drilling plan when Chevron announced a deal to acquire Hess Corporation, which owns a 30% participating interest in the Stabroek Block alongside ExxonMobil and CNOOC. Routledge confirmed that there is potential for an expanded exploration effort encompassing up to 12 wells, contingent on the results of the initial seven. \u201cIf one of those new anchor-hunting prospects comes in, then we may well want to accelerate some exploration or appraisal activity in that area. So, as a starting basis, we have seven exploration and appraisal wells. These are not insignificant wells,\u201d Routledge stated.<\/p>\n\n\n\n


ExxonMobil\u2019s 2024 exploration campaign started smoothly with the successful drilling of the Bluefin-1 well near the Suriname border and continued with the Hatchetfish-1 well. The exploration strategy extends beyond the immediate objective of unearthing new oil reserves. It also encompasses a focused initiative to evaluate the gas potential within the Stabroek Block.<\/p>\n\n\n\n


So far, the company has discovered approximately 17 trillion cubic feet of gas in this expansive 6.6-million-acre Stabroek Block, with a significant portion located near the Suriname border. Upstream President Liam Mallon expressed his company\u2019s alignment with Guyana\u2019s push to prioritize gas development. He stated, \u201cWe\u2019re excited \u2013 it will take some time to properly de-risk and appraise\u2026\u201d
These exploration initiatives have met some contention. The announcement of the Trumpetfish and Redmouth wells sparked a protest from Venezuela, which claims sovereignty over part of Guyana. Nevertheless, Routledge addressed these issues head-on. He affirmed that the proposed exploration wells are located securely within Guyanese territory, a minimum of 100 kilometers distant from the region claimed by Venezuela. He clarified that there has been no recent record of conflict or interference by Venezuela in the areas marked for drilling, insisting that ExxonMobil\u2019s operations are advancing within the bounds of Guyana\u2019s acknowledged territory.<\/p>\n\n\n\n


\u201cIt\u2019s licensed to us to explore and develop. Where there\u2019s controversy over the borders, that\u2019s for the governments to resolve,\u201d Routledge stated. In this regard, ExxonMobil has emphasized that there is an agreement between the Governments of Guyana and Venezuela\u2014the Argyle Declaration\u2014to avoid exacerbating the territorial controversy. Routledge also pointed to an ongoing resolution process at the International Court of Justice.<\/p>\n","protected":false},"excerpt":{"rendered":"

Positive drilling results in 2024 will catapult Guyana\u2019s proven energy resources to new heights ExxonMobil Guyana is strategically advancing its comprehensive seven-well exploration and appraisal campaign for 2024. Company President Mr. Alistair Routledge asserted in February that the initiative is a pivotal part of the company\u2019s approved 35-well campaign spanning several years, targeting increased reserves […]<\/p>\n","protected":false},"author":3,"featured_media":258,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":76,"footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-256","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-offshore"},"_links":{"self":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/comments?post=256"}],"version-history":[{"count":1,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/256\/revisions"}],"predecessor-version":[{"id":1014,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/256\/revisions\/1014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/media\/258"}],"wp:attachment":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/categories?post=256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/tags?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}