ExxonMobil to drill 30 development wells in 2025 – Routledge

– Ranger-1 well among areas to be appraised

As 2025 beckons, US oil giant ExxonMobil has indicated its plans to drill 30 development wells in 2025, with the company setting the stage for future exploration and production of oil in the Stabroek Block.
During an appearance on the Energy Perspectives podcast, ExxonMobil Guyana’s President Alistair Routledge explained that the company is looking to prepare for its upcoming developments with a range of development wells. Of course, with Yellowtail having a 2025 startup, this will be an area of crucial importance.
“As always, at this stage, we’re investing in a mix of wells. The Yellowtail project is starting up. We will also be drilling wells for other projects that are going to start up soon. Around about 30 development wells in 2025, spanning across Yellowtail, but also Uaru and the Whiptail developments. So really important year for us, as we drill those wells and prepare for those developments to start up in 2026 and 2027.”

“On top of that, we continue to explore and appraise the resource across the block. And we expect to have around two rank exploration wells. So, looking for new opportunities and plays. And then continuing our appraisal work on resources across the block, everywhere from probably the Ranger discovery that we made a few years ago, down to the resources southeast, what we call the gas area of the block,” Routledge also explained.
Back in 2018, Exxon announced the discovery of 230 feet of high-quality oil in its Ranger-1 well within the Stabroek Block approximately 60 miles North West of the Liza phase one project. Since then, however, the find has flown under the radar. Routledge was asked about this interlude between the find and now and said that this is down to the location of the well.
“The Ranger discovery was made a few years ago. And it’s more challenging to develop a carbonite discovery, than it is to develop a sandstone, which is predominantly all of our developments to date have been in sandstone.”
“So, it’s more challenging, takes a lot more effort to go through the geoscience data that we’ve gathered from the wells we’ve already drilled. We’ve gathered data from neighbouring exploratory wells we’ve been drilling. To see what we can combine in that part of the block as a potential development,” Routledge added.
Esso Exploration and Production Guyana Limited (EEPGL), Exxon’s local subsidiary, is the operator of the Stabroek Block, and holds a 45 per cent interest then, while Hess Guyana Exploration Ltd holds a 30 per cent interest, and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds the remaining 25 per cent interest.
Currently, ExxonMobil is producing oil from three offshore developments in Guyana: Liza Phase One and Two, which utilise the Liza Destiny and Liza Unity Floating Production Storage and Offloading (FPSO) units, and the Payara Project, which uses the Prosperity FPSO. All these projects are located in the Stabroek Block.
The Prosperity FPSO vessel started pumping oil in November of last year and so far, its daily production rate has risen to above 200,000 barrels of oil. Combined, the Liza Destiny, Unity and Prosperity FPSO vessels produced over 625,000 barrels of oil per day.
Guyana pumped out over 220 million barrels of oil for the entirety of 2024. It is estimated that when the Yellowtail development project comes on stream, production will climb to 810,000 barrels per day by 2027. Additionally, Exxon has already received approvals for and is advancing preparatory works on its fifth and sixth projects, Uaru and Whiptail.
The company has meanwhile completed the purchase of all three FPSO vessels operational in the block, with the purchase of the Liza Destiny FPSO for US$535 million last month. (G-8)