ExxonMobil has made an oil discovery at the Redtail-1 exploration well, bringing the total number of discoveries to 18 offshore Guyana.
Located 1.25 miles north-west of Yellowtail discovery, the Redtail exploration well was drilled to a depth of 6,164ft in water and encountered 232ft of high-quality oil-bearing sandstone.
Additionally, following drilling at Yellowtail-2, the firm encountered 69ft of net pay in high-quality oil-bearing reservoirs among the original discovery intervals of Yellowtail-1.
ExxonMobil exploration and new ventures senior vice-president Mike Cousins said: “Our Stabroek Block exploration program continues to identify high-quality reservoirs in close proximity to previous discoveries, establishing efficient opportunities for new projects in Guyana.
“Developing these projects remains an integral part of ExxonMobil and our co-venturers’ long-term growth plans and a source of significant value for Guyana.”
Redtail-1 well adds to estimated recoverable resource at Stabroek block
ExxonMobil said that the Redtail-1 well will add to the previously announced estimated recoverable resource of more than eight billion barrels of oil equivalent (Bboe) on the Stabroek block.
Spread over an area of 6.6 million acres, the Stabroek Block is operated by ExxonMobil affiliate Esso Exploration and Production Guyana with 45% stake.
Hess Guyana Exploration and CNOOC wholly-owned subsidiary CNOOC Petroleum Guyana own 30% and 25% stakes respectively in the block.
Last year, ExxonMobil and its partners have made oil discovery at the Tripletail-1 well located in the Turbot area on the Stabroek Block offshore Guyana.
Located approximately 5km northeast of the Longtail discovery, the Tripletail-1 well was drilled in 6,572ft of water using Noble Tom Madden drillship.
