{"id":57060,"date":"2021-03-11T07:53:52","date_gmt":"2021-03-11T12:53:52","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57060"},"modified":"2021-03-11T21:19:57","modified_gmt":"2021-03-12T02:19:57","slug":"exxon-xom-finds-no-oil-at-bulletwood-1-well-in-offshore-guyana","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57060","title":{"rendered":"Exxon (XOM) Finds No Oil at Bulletwood-1 Well in Offshore Guyana"},"content":{"rendered":"
\n
\n

Exxon (XOM) Finds No Oil at Bulletwood-1 Well in Offshore Guyana<\/a><\/h3>\n<\/header>\n<\/header>\n
\n
\n
\n
\n
\n
\n
\n

ExxonMobil Corporation\u00a0<\/strong>XOM and partners drilled a dry well at the Bulletwood-1 offshore well in the Canje Block, positioned 180 kilometers off the coast of Guyana.<\/p>\n

The company mentioned that it failed to discover commercial quantities of oil at the Bulletwood-1 well, which is the first among the three wells expected to be drilled on the ultradeep Canje block.<\/p>\n

During the drilling, the Bulletwood-1 well identified the presence of quality reservoirs and not commercial hydrocarbons. The well was dug 2,846 meters below the water surface and at a vertical height of 6,690 meters, with the help of the Stena Carron drillship.<\/p>\n

Notably, this is the third dry hole to be drilled by ExxonMobil in four months offshore Guyana. Earlier, the Hassa-1 well on the Stabroek block and the Tanager-1 well on the Kaieteur block failed to make a commercial find in the primary target reservoirs.<\/p>\n

At present, the Canje Block is operated by Esso Exploration & Production Guyana Ltd, a subsidiary of ExxonMobil, with a 35% ownership interest. The remaining partners include\u00a0TOTAL SE<\/strong>\u00a0TOT, holding a 35% interest in the block, while JHI and Mid-Atlantic Oil & Gas Inc. own 17.5% and 12.5%, respectively.<\/p>\n

ExxonMobil commenced the exploratory drilling in early 2021. Subsequent to the Bulletwood-1 well, the drilling of the independent prospects Jabillo-1 and Sapote-1 is expected to follow in the upcoming months.<\/p>\n

Company Profile & Price Performance<\/strong><\/p>\n

Headquartered in Irving, TX, ExxonMobil is one of the leading integrated energy companies in the world.<\/p>\n

The company\u2019s shares have outperformed the industry in the past six months. Its stock has gained 64.5% compared with the industry\u2019s 46.3% rally.<\/p>\n

\n
\n
\n
\"\"<\/div>\n<\/div>\n<\/div>\n<\/figure>\n
\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n

 <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Exxon (XOM) Finds No Oil at Bulletwood-1 Well in Offshore Guyana ExxonMobil Corporation\u00a0XOM and partners drilled a dry well at the Bulletwood-1 offshore well in the Canje Block, positioned 180 kilometers off the coast of Guyana. The company mentioned that it failed to discover commercial quantities of oil at the Bulletwood-1 well, which is the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[31024,4390,27081,9113],"class_list":["post-57060","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bulletwood-1","tag-exxon","tag-guyana","tag-yahoo-finance"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57060"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57060\/revisions"}],"predecessor-version":[{"id":57067,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57060\/revisions\/57067"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}