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CNOOC LIMITED

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ExxonMobil makes new discovery off Guyana's coast

06/09/2021 | 08:58am EDT

June 9 (Reuters) - Exxon Mobil Corp said on Wednesday it has made a new discovery at Longtail-3 in the Stabroek Block offshore Guyana, as the U.S. oil major develops one of the world's most important new oil and gas blocks in the last decade.

Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp and China's CNOOC Ltd. It began production at the block in 2019.

The company, however, did not specify the size of the latest discovery's oil and gas reserves.

The latest find continues the consortium's long string of discoveries in Latin America's newest crude producing nation and underscores the importance of Guyana to Exxon for increasing its future oil output.

The Longtail-1 discovery in the Stabroek Block was drilled in 2018, encountering about 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir.

In April, Exxon said it made discovery at the Uaru-2 well in the Stabroek Block. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CNOOC LIMITED -2.04% 8.66 End-of-day quote.20.61%
EXXON MOBIL CORPORATION 3.63% 62.59 Delayed Quote.51.84%
HESS CORPORATION 7.17% 90.4 Delayed Quote.71.24%
LONDON BRENT OIL -0.44% 74.44 Delayed Quote.42.48%
WTI -0.48% 72.621 Delayed Quote.49.08%
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Financials
Sales 2021 220 B 34 002 M 34 002 M
Net income 2021 58 551 M 9 046 M 9 046 M
Net Debt 2021 106 B 16 434 M 16 434 M
P/E ratio 2021 5,41x
Yield 2021 8,59%
Capitalization 322 B 49 855 M 49 801 M
EV / Sales 2021 1,95x
EV / Sales 2022 1,77x
Nbr of Employees 18 151
Free-Float 35,0%
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Technical analysis trends CNOOC LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 21
Average target price 9,89 CNY
Last Close Price 7,22 CNY
Spread / Highest target 94,6%
Spread / Average Target 37,0%
Spread / Lowest Target 7,17%
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Managers and Directors
NameTitle
Ke Qiang Xu Chief Executive Officer & Executive Director
Wei Zhi Xie Chief Financial Officer
Dong Jin Wang Chairman
Xiaonan Wu Joint Secretary & Compliance Officer
Sung Hong Chiu Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CNOOC LIMITED20.61%49 855
CONOCOPHILLIPS51.16%81 572
EOG RESOURCES, INC.70.42%49 601
CANADIAN NATURAL RESOURCES LIMITED46.75%42 985
PIONEER NATURAL RESOURCES COMPANY41.44%39 298
HESS CORPORATION71.24%27 708