After a series of major oil discoveries offshore Guyana, ExxonMobil and partners found that the deepest well drilled so far offshore the Latin American country did not have commercial potential for a stand-alone development. The Tanager-1 well has been reported as an oil discovery, which is currently considered to be non-commercial as a stand-alone development, a minority partner on the Kaieteur Block, Westmount Energy, said in a filing to the London Stock Exchange on Tuesday. Westmount Energy holds 5.4 percent of Cataleya Energy, the parent firm of Cataleya Energy Limited, which has 25 percent in the Kaieteur Block operated by an ExxonMobil subsidiary. “The outcome of the Tanager-1 exploration well has proved to be a mixed bag – confirming the extension of the Liza play fairway onto the Kaieteur Block but apparently coming up short at the deeper stratigraphic levels,” Westmount’s Executive Chairman Gerard Walsh said. The non-commercial oil […]