Hess Corporation and ExxonMobil have announced the Pinktail oil discovery on the Stabroek Block in Guyanese waters following the drilling of the Pinktail exploratory well.

The Pinktail well intersected 67 meters of net pay in high quality oil bearing sandstone reservoir. It was drilled in 1,810 meters of water depth by the Noble Sam Croft drilling rig.

The Pinktail oil discovery has been made nearly 35km southeast of the Liza field phase 1 which has been in production since late 2019. Pinktail, which marks the 20th significant discovery on Stabroek Block, is 6km southeast of the Yellowtail oil discovery.

John Hess — CEO of Hess Corporation, commenting on the Pinktail oil discovery, said: “We are happy to announce our 20th significant discovery on the Stabroek Block, which will add to the discovered recoverable resource estimate of more than 9 billion barrels of oil equivalent.”

ExxonMobil, through its affiliate Esso Exploration and Production Guyana Limited, has an operating stake of 45% in the Stabroek Block. Its partners include Hess Guyana Exploration with a 30% stake and CNOOC Petroleum Guyana with a 25% stake.

  ExxonMobil, Guyana, Hess Corporation, John Hess, Oil and gas industry news, Oil and gas news, Stabroek Block