Aerial view of oil refinery
When global oil markets were thrown into chaos by Russia’s invasion of Ukraine, most investors ran for safety. However, Christopher Eppinger ran toward the chaos — and reportedly walked away with US$250 million (C$346 million) (1).
Now 31, the commodities trader is chasing his next opportunity in Guyana, a small South American nation that’s rapidly becoming one of the fastest-growing oil economies on the planet (2). Through his company, Petrichor Energy, Eppinger says he plans to invest up to US$60 million (C$83 million) in Guyana — buying a quarry, opening a trading office and bidding on government contracts to transport crude and fuel.
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“I’m getting goosebumps,” Eppinger told the Financial Times in a phone interview (1). “This is exactly what I was waiting for my whole life. I’m coming into a new market where everything is possible.”
His story is more than a tale of extraordinary luck. It’s a case study in the kind of disciplined, high-conviction investing that comes with enormous reward — but also enormous risk. For Canadians watching oil markets from afar, Eppinger’s moves raise an important question: How do you know when to bet big, and when to walk away?
A small country, a massive oil boom
Guyana, a country of fewer than 1 million people, began its dramatic economic transformation in 2015 when ExxonMobil discovered an estimated 11 billion barrels of crude in the offshore Stabroek block — one of the largest finds in decades (3).
Since then, production has surged to more than 900,000 barrels a day, with further growth expected (4). Analysts at Wood Mackenzie estimate the Guyanese government could take in around US$10 billion (C$13.6 billion) annually in oil revenue by the end of the decade — a windfall already reshaping the country’s economy.
Guyana’s gross domestic product (GDP) has experienced unprecedented growth recently, with over 40% in some years. World Bank Group data reports the country’s GDP grew by 43.4% in 2024, following massive surges in 2022 (63.3%) and 2023 (5).
“It’s insane that nobody is looking at it,” Eppinger said.
The idea to invest in Guyana came during a conversation with traders about Chevron’s US$53 billion (C$73 billion) deal to acquire Hess Corporation — a key ExxonMobil partner in Guyana’s offshore projects (6). Before turning to Guyana, Eppinger had explored deals in the Middle East, including fuel projects in Iraq and gasoline exports from the United Arab Emirates. He ultimately chose not to move forward — timing he now views as fortunate, given the heightened tensions in the region.