Exxon Mobil Expects More Oil From Stabroek Block Offshore Guyana

Exxon Mobil Corp. (NYSE: XOM) and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25% more recoverable resources than estimated, they said July 23.

Exxon Mobil and U.S.-based partner Hess Corp. (NYSE: HES) said more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block, which is part of one of the biggest oil discoveries in the world in the last decade.

The previous estimate was 3.2 billion barrels of oil equivalent, Exxon Mobil, the world’s largest publicly traded oil producer, said.