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Recoverable resource estimate for Stabroek block increased

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Oilfield Technology,

Hess Corp. has announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 10 billion boe, up from the previous estimate of more than 9 billion boe.

The updated resource estimate includes another significant discovery on the Stabroek block at the Cataback well. The well encountered 243 ft (74 m) of net pay in high quality hydrocarbon bearing sandstone reservoirs of which 102 ft (31 m) is oil bearing. Cataback is located approximately 3.7 miles (6 km) east of Turbot-1 and was drilled in 5928 ft (1807 m) of water by the Noble Tom Madden.

CEO John Hess said: “We are pleased that Cataback is our 21st significant discovery on the Stabroek Block and further underpins the potential for future developments. We continue to see multibillion barrels of additional exploration potential remaining on the block.”

The Stabroek block is 6.6 million acres (26 800 km2). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.

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