• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 6 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 23 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 15 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 32 mins The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 1 day "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 1 day Are you aware of Oil Price short videos on our energy topics?
  • 1 day Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days NordStream2

Breaking News:

California Gasoline Prices Are Spiking

ExxonMobil Sets Higher Guyana Oil Production Target

ExxonMobil has revised upward its 2025 crude oil production in Guyana on the back of its fourth deepwater project there. Under new estimates, Exxon expects to produce 800,000 bpd by 2025.

And Guyana has even more optimistic projections for its crude oil production at 1 million bpd by 2027.

Exxon’s fourth project, the Yellowtail project, will produce 250,000 bpd—the largest in Guyana, according to Exxon. Yellowtail will even produce more than Liza-1 and Liza-2, which lie just 19 miles to the northwest.

Exxon’s previous Guyana production estimates for 2026 was 750,000 bpd.

For Yellowtail, Exxon expects production to begin at the end of 2025.

Exxon announced just two weeks ago another new oil discovery called Uaru-2 in the Stabroek Block offshore Guyana. This added to Exxon’s 9 billion oil-equivalent barrels across more than a dozen discoveries in that block.

Exxon and Hess expect at least six projects online by 2027 and see the potential for up to 10 floating production storage and offloading vessels (FPSOs) to develop the current recoverable resources offshore Guyana.

Guyana is one of the top priorities in the U.S. supermajor’s strategy to focus on high-return and cash-generating projects that would allow it to grow its dividend through 2025.

The Yellowtail discovery was announced in April 2019. Yellowtail is ExxonMobil’s 13th oil discovery in the Stabroek Block, according to Exxon’s website. The Yellowtail- 1 well was drilled in a new reservoir, encountering approximately 292 feet (89 meters) of high-quality oil bearing sandstone reservoir and was drilled to a depth of 18,445 feet (5,622 meters) in 6,046 feet (1,843 meters) of water.

Exxon affiliate Esso Exploration and Production Guyana Limited operates the Stabroek projects and owns a 45% interest in the block.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News