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Author: Noia Student

2021 Independent Resource Assessment Released

Results of the 2021 Independent Resource Assessment show a potential of 21.9 billion barrels of oil equivalent (P50 unrisked volumes) in the Labrador South Region. October 20, 2021: This is the first exploration round for the newly imaged and defined Chidley Basin off the coast of Labrador. Ten of the parcels in the Labrador South […]

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Citi Says Oil May Climb to $90

Citigroup Inc. said oil prices may hit $90 a barrel at times this winter as gas-to-oil switching drives stockpiles lower. The bank, which raised its Brent oil forecast for the fourth quarter to $85, said inventories may dwindle to their lowest level on record in terms of days-of-cover by year-end. That comes as consumption gets […]

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ExxonMobil’s resource estimate for Guyana block rises to 10 billion barrels

Oil major ExxonMobil has increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels following its latest discovery. The updated resource estimate includes a new discovery at the Cataback-1 well, which brings the total significant discoveries to more than 20 within the Stabroek Block, ExxonMobil […]

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