The deeply impoverished South American country of Guyana in recent years was heralded as the hottest new oil boom in the Americas. A series of large offshore oil discoveries by integrated global energy major ExxonMobil catapulted Guyana into the spotlight. Earlier this year Exxon made its 16th oil discovery in the offshore Stabroek Block. The oil giant also revised upward its estimated recoverable resources in Guyana to more than 8 million barrels of oil equivalent, highlighting the country’s considerable hydrocarbon potential. There was further good news at the end of July 2020 with Hess, which is partnered with Exxon and CNOOC to develop the Stabroek Block, reporting that appraisal drilling of the Yellowtail well had identified two more reservoirs. The low breakeven costs associated with operating in Guyana’s offshore oil fields, with Hess estimating they are an industry-low $35 per barrel, coupled with the considerable exploration upside is attracting […]