EOG finds oil in Beryl field

EOG Resources Trinidad Ltd has made an oil discovery at the Beryl well in the TSP Deep Area off Trinidad's east coast.

In a release, the Energy Chamber said the company made the announcement as part of its first quarter 2025 financial results.

The chamber said the Beryl well is located in about 170 feet of water depth and hit 125-plus feet of high-quality oil-bearing net pay.

EOG Resources said it is progressing the project to a final investment decision with its partner, bpTT.

The chamber said EOG Resources and bpTT are currently collaborating as 50:50 joint venture partners on the development of the Mento and Coconut gas fields, with the Mento field due to begin production later this year and the Coconut in 2027. It said EOG is the operator of both of these fields.

EOG Resources Trinidad Ltd, is a local subsidiary of US-based energy company EOG Resources Inc.

It holds several concession contracts for the supply of natural gas in TT, accounting for approximately three per cent of the group's global reserves.

In its latest financial report, the company posted an adjusted net income of US$1.6 billion.

Total free cash flow for the quarter was US$1.3 billion.

EOG Resources also highlighted its recent exploration and development success in TT.

In 2024, the company made the Oilbird discovery and development in SECC block, off the coast of Trinidad.