ExxonMobil has said recently that it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 B oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major development hub.
Yellowtail-1 encountered approximately 292 feet (89 m) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,445 feet (5,622 m) in 6,046 feet (1,843 m) of water. The well is located approximately 6 miles (10 km) northwest of the Tilapia discovery. The Noble Tom Madden began drilling the Yellowtail well on March 27. It will next drill the Hammerhead-2 well.
The Stabroek Block is 6.6 M acres (26,800 sq km). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25% interest.
