Hess updates resource estimate for Stabroek Block offshore Guyana

Hess 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 5,928 ft (1,807 m) of water by Noble Corp‘s Noble Tom Madden drillship.

“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,” said Hess CEO John Hess.

The Stabroek Block is 6.6 million acres (26,800 sq km). ExxonMobil affiliate Esso Exploration and Production Guyana is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration holds 30% interest and CNOOC Petroleum Guyana holds 25% interest.