Exxon Finds More Oil Offshore From Guyana
December 23 2019 - 8:48AM
Dow Jones News
By Micah Maidenberg
Exxon Mobil Corp. (XOM) said Monday it discovered oil at a well
located offshore from the South American country of Guyana.
The Mako-1 well encountered about 164 feet of a high-quality
oil-bearing sandstone reservoir, Exxon said.
The discovery is the 15th the company has made in Guyana's
Stabroek Block. The company estimates the block contains more than
6 billion oil-equivalent barrels.
The Mako-1 well is located around six miles from the Stabroek
Block's Liza field, where the company began producing oil this
month.
The first phase of that project is expected to produce as much
as 120,000 barrels of oil a day using a floating production
ship.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
December 23, 2019 08:33 ET (13:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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