Hess Encouraged by Favorable Results of Second Well Offshore Guyana; Confirms a World-Class Oil Discovery
Hess Corporation Logo header
SEARCH

Hess Encouraged by Favorable Results of Second Well Offshore Guyana; Confirms a World-Class Oil Discovery

  • Guyana
06.30.2016

Hess Corporation announced positive results from the Liza-2 exploration well in the Stabroek block offshore Guyana. The results confirm a world-class oil discovery with estimated recoverable resource for the Liza prospect of between 800 million and 1.4 billion barrels of oil equivalent.

“We are very encouraged by the drilling results to date of the Liza prospect, which we believe has the potential to materially contribute to our resource base and future production growth,” John Hess, CEO of Hess Corporation, said. “In addition to the Liza prospect, we continue to evaluate the resource potential on the broader Stabroek block with additional exploration drilling planned.”

The Liza wells are located in the Stabroek block approximately 120 miles (193 kilometers) offshore Guyana. The Stabroek block is 6.6 million acres (26,800 square kilometers).

“We look forward to working with our co-venture partners and the government of Guyana to move this exciting prospect toward a commercialization decision,” Hess said.

The Liza-2 well was drilled by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd., approximately 2 miles (3.3 km) from the Liza-1 well. The Liza-2 well encountered more than 190 feet (58 meters) of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 17,963 feet (5,475 meters) in 5,551 feet (1,692 meters) of water.

Esso Exploration and Production Guyana Limited holds 45 percent interest in the Stabroek block and is operator. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

Click here for the press release

Related News
  • Hess Announces 13th Discovery Offshore Guyana

    Hess today announced a new discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated gross discovered recoverable resource of more than 5.5 billion barrels of oil equivalent on the Stabroek Block.
    Full story
  • Hess schedules Q1 2019 earnings release conference call.

    Hess announced today that it will hold a conference call on Thursday, April 25, 2019 at 10 a.m. Eastern Time to discuss its first quarter 2019 earnings release.
    Full story
  • Oil and Gas Investor: The Return of the Bakken

    North Dakota’s production is setting new records, far exceeding the 2014 high. Bigger production volumes are coming from increasingly rubble-izing the rock, reports Oil and Gas Investor.
    Full story