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    1. Drilling & Completion

    ExxonMobil estimates up to 1 billion barrels in Brazil oil prospect

    March 26, 2022
    The Cutthroat-1 prospect offshore Brazil could have as much as 1 billion barrels of oil and gas equivalent.
    Photo 199100459 © Renato Meireles | Dreamstime.com
    Seadrill’s West Saturn drillship has been performing drilling operations at the Cutthroat prospect in the Sergipe-Alagoas basin offshore Brazil.
    Seadrill’s West Saturn drillship has been performing drilling operations at the Cutthroat prospect in the Sergipe-Alagoas basin offshore Brazil.

    Offshore staff

    HOUSTON – Exxon Mobil Corp. is drilling in a new area offshore of Brazil that could have as much as 1 billion barrels of oil and gas equivalent, according to its partner Murphy Oil.

    As reported by Reuters, Murphy Oil CEO Roger Jenkins gave the update on the Cutthroat-1 prospect offshore Brazil in a presentation to investors.

    If exploration is successful, it would be Exxon’s first oil discovery in Brazil as an operator. Exxon leads the prospect in the Sergipe-Alagoas basin, northeast of Brazil, with a 50% stake. It is joined by Brazilian producer Enauta with 30% and Houston-based Murphy Oil Corp with 20%.

    Exxon kicked off drilling activity on the Cutthroat-1 prospect on Feb. 20 and should conclude in the coming weeks, Jenkins said.

    This is the first exploratory well of the nine blocks the three companies hold together in the Sergipe-Alagoas basin. The Cutthroat area has an upward gross resource potential between 500 million to 1.050 billion barrels of equivalent oil, he said.

    03/25/2022