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.
>>> Lakers Offer $45M Sign-and-Trade for Jonathan Kuminga
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.
>>> EasyJet Adds Seventh Glasgow Aircraft, Launches New European Routes
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.
