ExxonMobil has made its 18th discovery offshore Guyana at the Redtail-1 well, adding to the previously announced estimated recoverable resource of more than 8 billion oil-equivalent barrels on the Stabroek Block.
“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,” said Mike Cousins, Senior Vice-President of exploration and new ventures at ExxonMobil.
“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 encountered approximately 70 m of high-quality oil bearing sandstone and was drilled in 1,878 m of water. The well is located approximately 2.5 km northwest of the Yellowtail discovery.
In addition to the Redtail-1 discovery, drilling at Yellowtail-2 encountered 21 m of net pay in newly identified, high quality oil bearing reservoirs among the original Yellowtail-1 discovery intervals. This resource is currently being evaluated for development in conjunction with nearby discoveries.