Published by
The Street
The Street
By Business Wire ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approxi…