The new oil discovery is the latest in a series of previous discoveries at places including Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.

ExxonMobil's affiliate Esso Exploration and Production Guyana started drilling the Ranger-1 well on November 5, 2017 and discovered about 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 21,161 feet (6,450 meters) depth in 8,973 feet (2,735 meters) of water.

“This latest success operating in Guyana’s significant water depths illustrates our ultra deepwater and carbonate exploration capabilities. This discovery proves a new play concept for the 6.6 million acre Stabroek Block, and adds further value to our growing Guyana portfolio,” Steve Greenlee, president of ExxonMobil Exploration Company, mentioned.

After Ranger-1 well is completed, the Stena Carron drillship will move to the Pacora prospect, 4 miles from the Payara discovery. Other exploration drilling is expected to be conducted on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery.