Faltering: Guarani well drilled but no discovery reported.
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Guarani well off Brazil disappoints
US player Hess said the Guarani appraisal well on the BM-S-22 licence in the Santos Basin offshore Brazil showed disappointing results.
Operator ExxonMobil has reached total depth and no discovery notice was filed with Brazilian regulators.
Hess’ share of the well cost will be expensed in the second quarter.
The companies will analyze the seismic, log and core data to plan the location of a third well and further evaluate the BM-S-22 licence.
Hess holds a 40% interest in the licence. US supermajor ExxonMobil holds 40% and the operatorship and Brazilian state-run Petrobras holds 20%.