With 35 percent of the working interest in its grasp, ExxonMobil holds the position of lead operator for the Kaieteur Block. It is expected to drill the first well next year.
This is noted in a report commissioned by one of Exxon’s partners on the block, Ratio Petroleum, which holds 25 percent of the petroleum rights. The report was prepared by Netherland, Sewell & Associates Inc. (“NSAI”).
This newspaper understands that the first well in the Kaieteur Block will be on the Tanager Prospect during the first half of 2020. This of course, is subject to the standard permitting and regulatory approvals.
Furthermore, the NSAI report describes the Tanager Prospect as a stacked reservoir prospect (Maastrichtian to Turonian reservoir intervals) and assigns a ‘Best Estimate’ of the unrisked Prospective Oil Resource to be about 256.2 million barrels, with an aggregate probability of geologic success pegged at 72%.
The Kaieteur Block is located approximately 155 miles (250 kilometers) offshore Guyana and is adjacent to the Stabroek Block where total recoverable resources of more than 5.5 billion barrels of oil equivalent have been discovered to date.
The Kaieteur Block covers 3.3 million acres (13,535 square kilometers) and is located in ultra-deep waters. Three-D seismic survey was completed in 2017 on this block.
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