A joint venture led by ExxonMobil has fully recovered its $55 billion investment in Guyana's Stabroek Block as of July 31, 2026.
This milestone came two years ahead of schedule and triggers a contract shift that grants the South American nation a larger share of oil revenues.
Under the production sharing contract, ExxonMobil and its partners previously retained up to 75% of extracted oil to cover exploration and development costs.
With initial expenditures paid off, Guyana and the consortium will now split remaining profit oil evenly at a 50/50 ratio.
The milestone comes as offshore output exceeds 900,000 barrels per day across four active floating production, storage, and offloading vessels.
Data from the U. S.
Energy Information Administration shows American imports of Guyanese crude reached 261,000 barrels per day in April 2026, up 51% from two years earlier.
ExxonMobil holds a 45% operating interest in the 6.6-million-acre Stabroek Block. Chevron, which acquired original partner Hess Corp, holds a 30% stake, and CNOOC holds 25%.
Chief Financial Officer Neil Hansen discussed the milestone in a media interview on July 31, 2026.
"We brought these investments on at an unprecedented pace and cost advantage," Hansen said.
The cost recovery adjustment reduces ExxonMobil's net booked production from Guyana by about 100,000 barrels per day heading into the third quarter of 2026.
However, company executives project free cash flow from the field will double 2025 levels by 2030.
ExxonMobil Chief Executive Officer Darren Woods detailed the company's future outlook during a second-quarter earnings call on July 31, 2026.
"We're not done yet in Guyana and we continue to see a really bright future there," Woods said.
The consortium expects to bring its fifth project, the $12.7 billion Uaru development, online in 2026 using the Errea Wittu vessel to add 250,000 barrels per day.
The sixth project, the $12.5 billion Whiptail facility, is scheduled to begin production in late 2027 using the Jaguar FPSO.
ExxonMobil is also advancing the $6.8 billion Hammerhead project for 2029 and plans a final investment decision by early 2027 on the $12.5 billion Longtail development, which will lift natural gas and condensate starting in 2030.
Analysts expect Guyana's total hydrocarbon output to reach 1.9 million barrels per day by 2030, positioning it behind Brazil as South America's second-largest oil producer.
