ExxonMobil has made its ninth oil discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery in the Stabroek Block in the past year.
The company said the latest find proves a “new play concept” for potential development. Drilling at the well found approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 meters) depth in 3,373 feet (1,150 meters) of water. The Stena Carron drillship began drilling on July 27, 2018.
“The Hammerhead-1 discovery reinforces the potential of the Guyana basin, where ExxonMobil is already maximizing value for all stakeholders through rapid phased developments and accelerated exploration plans,” Steve Greenlee, the president of ExxonMobil Exploration Company was quoted as saying in a statement. “Development options for Hammer-head will take into account ongoing evaluation of reservoir data, including a well test,” he added.
