ExxonMobil Gains New Permit for Jacunda-1 Well in Stabroek Block Amid Discovery Reports

According to Kaieteur News, ExxonMobil, the operator of the Stabroek Block, has secured a new exploration Permit from the Environmental Protection Agency (EPA) amid increasing concerns regarding the secrecy surrounding new oil discoveries in Guyana. The Permit, dated September 23, 2026, authorizes the American oil major to conduct Offshore Petroleum Exploration Drilling of the Jacunda-1 Well, which is the twenty-second Well under the 35 Multi-Well Programme, within the Stabroek Block Prospecting Licenses Area. This permit is set to be valid for a five-year duration, spanning from September 23, 2026, until September 22, 2031. This permit is set to be valid for a five-year duration, spanning from September 23, 2026, until September 22, 2031. ExxonMobil is currently utilizing the MODU Stena Carron drillship for its exploration endeavors in the Stabroek Block. According to the document reviewed by this publication, the company is required to submit geodata/shapefile information for the Jacunda-1 well within 45 days following the completion of drilling operations. The information must include the location with GIS coordinates of the well and well information including the depth, size and surrounding water depth and other relevant information.

Kaieteur News noted that just over two weeks prior to the report, the company had made a 'big discovery' in the Stabroek Block, although this announcement had not been officially released by the Government of Guyana or the operator. The information surfaced during an interview with an overseas news correspondent at an event in London, where ExxonMobil Vice President and Head of Global Exploration, John Ardill, stated that ExxonMobil had made a 'big discovery' in the central region of Guyana’s productive Stabroek Block, which could potentially lead to the block's tenth development. The information surfaced during an interview with an overseas news correspondent at an event in London, where ExxonMobil Vice President and Head of Global Exploration, John Ardill, stated that ExxonMobil had made a "big discovery" in the central region of Guyana’s productive Stabroek Block, which could potentially lead to the block's tenth development. Ardill mentioned that the discovery occurred approximately one to six weeks before the interview, and that the oil giant is performing appraisal activities alongside production tests to better define the resource. The company indicated it plans to submit an application to the Government of Guyana next year for a permit.

In a separate comment, ExxonMobil's Vice President expressed enthusiasm for continuing exploration and appraisal activities near the significant Ranger discovery, which was drilled in 2018 in the central part of the Stabroek block, where they continue to drill appraisal wells to gather subsurface data and assess the route to commercial development. He further explained that the company is testing nearby prospects that might be tie-backs to a Ranger development, and Ardill referenced the Rockhead well, drilled earlier this year, as one of the near-field wildcat wells. Following the publication of the article in Kaieteur News, the Minister of Natural Resources, Vickram Bharrat, confirmed the new discovery. Bharrat disclosed in a brief statement that ExxonMobil had "recently made the Rockhead-1 discovery" and that tests are ongoing to determine the value of the resources. Bharrat specified that Rockhead-1 was found adjacent to the Ranger-1 discovery made by Exxon in 2018. At that time, the oil giant had described Ranger-1, which was its sixth discovery, as its largest find in Guyana, and the subject minister stated that the company is still conducting appraisal activity at the Ranger-1 discovery. Bharrat added that the quantification of resources for Rockhead-1 would be based on evaluated tests and, if necessary, an appraisal program for that discovery.

To date, ExxonMobil has made 47 discoveries within the Stabroek Block since the initial discovery in 2015. The company has drilled a minimum of four new exploration wells this year. Earlier this year Exxon applied to the EPA for authorization to drill up to 35 additional exploration and appraisal wells in the massive 26,000 acres Stabroek Block. The proposed campaign is scheduled to run from 2028 through 2033. Exploration drilling at the Rockhead-1 well concluded on August 31, 2026. Separately, MARAD indicated in a prior notice that exploration drilling at Goby-1 was scheduled for completion on July 31, 2026. ExxonMobil has also previously announced intentions to search for more oil at the Barreleye-3 well site and the Goatfish-1 well site in the Stabroek.

ExxonMobil first extracted oil in commercial quantities off the coast of the country in 2015, leading to a series of successful discoveries that have increased the nation's estimated oil reserves to approximately 11.6B barrels. Experts have argued that the state should not bear the cost of exploration activities, as Guyana has been paying Exxon millions of US dollars for basin exploration. In 2025 alone, the company's financial records show that Guyana paid $26.6B for the company's exploration activities. The "sweetheart deal" established by ExxonMobil in 2016 permits the company to recover costs associated with its exploration activities, even if those efforts do not yield oil. This provision, along with others, has drawn criticism from both local and international experts who maintain that all companies should assume financial risks in their operating areas. While the company accrues billions in exploration expenses, which reduces profits that could benefit Guyana, the country reportedly lacks visibility into the oil giant's annual oil search. The Stabroek oil agreement requires the operator to submit yearly exploration plans and an annual budget to the Government of Guyana, yet this information is reportedly concealed by the government while the nation's oil revenue is reduced to cover this expenditure.