Hess Announces Sixth Oil Discovery Offshore Guyana
“The Ranger oil discovery demonstrates that the petroleum system is working in a new geologic play in the Guyana Basin more than 60 miles northwest of Liza, and reaffirms the extraordinary exploration potential of the Stabroek Block,” CEO John Hess said.
“We believe the investment opportunity in Guyana offers industry-leading financial returns and will create significant value for our shareholders for many years to come.”Following completion of the Ranger-1 well, the Stena Carron drillship will move to the Pacora prospect, 4 miles from the Payara discovery. Additional exploration drilling is planned on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery. The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds a 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds a 25 percent interest. Source / More: Hess Corporation Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Report your news Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>