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Posts Tagged ‘Exxon’

Sale 257 Stunner!

Posted in Gulf of Mexico, Offshore Energy - General, tagged , on November 17, 2021| Leave a Comment »

  • Exxon was the sole bidder on 94 tracts, all on the Texas shelf. All of the bids were $27.50/acre, just above the $25/acre minimum for shelf tracts.
  • Those bids accounted for 100% of Exxon’s bids and 30.5% of the high bids for the entire sale! 
  • Either Exxon sees resource potential that no one else (including Exxon) has seen for decades (I’m not discounting this possibility) or something else is going on here.
  • Stay tuned!

Absent Exxon’s surprise activity, this was a pretty typical sale of recent vintage: $177 million in high bids on 214 tracts. Even with all of the Exxon bids included, only tracts totaling 1.7 million acres received bids. (See previous post.)

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Liza Unity FPSO receives ABS sustainability rating

Posted in Guyana, Offshore Energy - General, tagged , , , , , on October 28, 2021| Leave a Comment »

According to ExxonMobil Guyana, the Liza Unity FPSO is the world’s first FPSO to be awarded for its sustainable design, documentation and operational procedures. The vessel has been awarded the SUSTAIN-1 notation by the American Bureau of Shipping (ABS), which is the Classification Society for the unit.

Guyana Chronicle
Liza Unity FPSO

Here are the criteria for the ABS Sustainability Notation, This looks like a solid program.

Based on the schematic for the sister FPSO Liza Destiny (below), gas that is not used to power the vessel will be reinjected.

The quality of offshore facilities and the attention to safety and environmental details have improved dramatically over time. The offshore industry deserves recognition for their efforts in that regard.

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Maybe this is why Exxon hasn’t spudded a well in the US GoM in 2 years (since 10/29/2019)

Posted in drilling, Gulf of Mexico, Guyana, Offshore Energy - General, tagged , , on October 7, 2021| Leave a Comment »

IRVING, Texas – ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. 

ExxonMobil
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Where would you drill?

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