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Top related persons:
Marianna Parraga - 1 David Gregorio Our - 1
Top related locs:
Frontera Guyana
Top related orgs:
HOUSTON - 1 Frontera Energy - 1 Energy - 1 Exxon Mobil - 1 Exxon - 1 Frontera - 1 Thomson - 1

Search resuls for: "Frontera Energy"


2 mentions found


☆ Frontera says it will evaluate Guyana oil discovery before proceeding
  + stars: | 2023-08-11 | by ( Marianna Parraga | Thomson Reuters | Focused On Energy-Related Sanctions | ) www.reuters.com   time to read: +2 min
The Frontera-CGX group could become the next oil consortium to advance an oil exploration project in Guyana to development after an Exxon Mobil-led (XOM.N) group did so. Frontera on Thursday said the joint venture was "excited by the definitive presence of oil in the Maastrichtian and Campanian, and the presence of hydrocarbons in the Santonian" areas of its exploration territory. "We believe there is significant potential in the block," it said, adding that the presence of light oil had been detected. Frontera posted net income of $80.2 million in the second quarter, compared with a loss of $11.3 million or in the prior quarter and net of $13.5 million in the second quarter of 2022, the firm said on Thursday. Capital expenditures rose to $154.9 million in the reported period -of which almost $73 million were related to Guyana-, from $131.5 million in the prior quarter.
Persons: Marianna Parraga, David Gregorio Our Organizations: HOUSTON, Frontera Energy, Energy, Exxon Mobil, Exxon, Frontera, Thomson Locations: Frontera, Guyana
☆ Exclusive: Guyana aims to reclaim, offer 20% of Exxon oil block
  + stars: | 2023-02-17 | by ( Sabrina Valle | ) www.reuters.com   time to read: +5 min
The group's contract allows Guyana to reclaim unexplored portions this year, Jagdeo said in an interview from the country's capital. Guyana is pursuing a multi-pronged strategy to lessen the consortium's grip on the country's oil resources, Jagdeo said, and spur new oil production. The decision to reclaim existing Exxon blocks signals urgency to speed development. Guyana also has development areas outside the soon-to-be-auctioned 14 blocks, and is prepared to offer them to "these countries on a bilateral level." The PSA draft will go through public consultation through March 8 and is expected to be finalized before an April 14 auction, Jagdeo said.
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