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

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

  • Guyana

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

Latest Hess News
  • Hess In the Media: Supply Chain World Calls Hess a Lean Pioneer

    Hess took a successful “leap of faith” in creating a multi-supplier forum to foster collaboration on its Stampede deepwater project.
    Full story
  • Hess Named to Dow Jones Sustainability Index (DJSI) North America for Eighth Consecutive Year

    The index, which recognizes public companies for outstanding performance across economic, environmental and social factors, is used as a reference by shareholders who consider sustainability when making investment decisions.
    Full story
  • Hess to Participate in Barclays CEO Energy-Power Conference

    Hess Corporation (NYSE:HES) announced today that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on September 7, 2017 at 10:25 a.m. ET.
    Full story