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4-Traders Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

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Exxon Mobil : Exxonmobil Announces New Discovery off Guyana

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10/06/2017 | 12:16pm CEST

A consortium led by ExxonMobil has identified new crude deposits in the offshore Stabroek block, its fifth discovery in the area off the coast of Guyana.

A 23m-deep reservoir of high quality, oil-bearing sandstone was found during drilling of the Turbot-1 well, which reached a depth of 5,622m, ExxonMobil said in a statement on Thursday.

The announcement follows discoveries at the nearby Liza, Payara, Snoek and Liza Deep areas.

"The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana," ExxonMobil`s exploration chief Steve Greenlee said.

Turbot-1 is located in Stabroek`s southeastern section, around 50km from the Liza phase one project.

ExxonMobil said the Stena Carron drillship would now move to the Ranger prospect, adding that a second Turbot well was being planned for 2018.

The US major holds a 45% operating interest in the 26,800km2 Stabroek block alongside Hess Guyana Exploration (30%) and CNOOC Nexen Petroleum Guyana (25%).

Meanwhile Keppel Shipyard said it secured a contract with SBM Offshore to convert an oil carrier into a floating production, storage and offloading (FPSO) vessel for the Stabroek block.

The FPSO will have a storage capacity of 1.6Mb of crude and produce up to 120,000/d. It will also have a gas treatment capacity of around 170Mf3 (4.81Mm3)/d and a water injection capacity of 200,000b/d.

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Sales 2017 259 B
EBIT 2017 21 737 M
Net income 2017 14 747 M
Debt 2017 38 285 M
Yield 2017 3,70%
P/E ratio 2017 23,53
P/E ratio 2018 20,63
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Andrew P. Swiger Chief Financial Officer & Senior VP
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