ExxonMobil Guyana reported that Bulletwood-1, the first well in the Canje block only confirmed seismic interpretation of the geology and showed evidence of non-commercial hydrocarbons. It added that geologic risk is inherent to frontier oil and gas exploration activities.
The American giant was keen to remind that its exploration success in Guyana is 80 percent with 18 discoveries on the Stabroek block.
It said, “We will continue to leverage our deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential.”
