HOUSTON – Hess was named E&P Explorer of the Year in a 15th annual Wood Mackenzie exploration industry survey announced June 2023. It is the second consecutive year that Hess has earned the distinction.
In a statement following the announcement, Wood Mackenzie Senior Vice President of Energy Research Dr. Andrew Latham said that Hess “has transformed itself with an enormous run of giant successes in Guyana since 2015.”
Wood Mackenzie recognized Hess as Explorer of the Year based on the discovery rate of its exploration program. The average industry success rate in 2021, for example, was 29 percent. The Hess success rate exceeded 80 percent in Guyana.
Following the announcement, Hess Senior Vice President and Chief Exploration Officer Barbara Lowery-Yilmaz said: “Hess is honored to be recognized as the E&P Explorer of the Year, an achievement that could not have occurred without the partnership we share with the country of Guyana and the operator, ExxonMobil.”
Gross discovered recoverable resources for the Stabroek Block, offshore Guyana, are currently estimated at more than 11 billion barrels of oil equivalent with multibillion barrels of exploration potential remaining.