ExxonMobil and Hess have both highlighted further progress in exploration efforts that will help define the specifics of what the US supermajor expects will be its fourth and fifth floating production, storage and offloading vessel projects on the massive Stabroek block off Guyana, writes Kathrine Schmidt.

Hess told investors that the drillship Stena Carron recently finished a drillstem test at the Longtail well and is presently drilling the tophole section of the Hammerhead-2 well.

After that the rig will begin drilling Hammerhead-3.

After wrapping up operations at Yellowtail, the drillship Noble Tom Madden will then tackle the rest of Hammerhead-2.

“Results from these tests will provide data for the operator to size and optimise the plan of development for this area,” chief operating officer Greg Hill said.

Other drilling plans for the rest of 2019 also include a second well at the Ranger prospect, and three additional exploration wells, the locations of which are being finalised.

Hess executives also offered some detail on the Yellowtail result, calling it “great” with a “high net to gross” pay ratio and with oily fluids resembling the Liza discovery from a geologic standpoint.

Tilapia also boasted “a very high-quality oil-bearing sandstone reservoir”.

Both wells “really increase our confidence that the greater Turbot area should underpin the fourth and fifth FPSOs that are being contemplated,” Hess said.

The companies also clarified that the newly-reported discoveries came on top of prior estimates for the area.

ExxonMobil senior vice president Jack Williams told investors that the recoverable resource estimate of 5.5 billion barrels of oil equivalent did not include these last three discoveries, adding there was "a good bit of upside" to the previous figure.

“I can't really give you anything further right now in terms of quantifying that, but we are continuing to look at that development plan and are looking at what would be the best way to continue to incorporate these additional encouraging results that we are getting,” he said.

However, with each new well drilled either for exploration or development for the first phase of Liza, the companies continue to add to their knowledge of the play, according to Williams.

“We are learning significant amounts kind of day-by-day in Guyana,” he said.

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Guyanese projects progress