CGX Energy and Frontera Energy Corporation, the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore Guyana announced that the Joint Venture has discovered oil at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana.
The Wei-1 well encountered 210 feet of hydrocarbon bearing sands in the Santonian horizon. The rock and fluid properties of the Santonian will now be analyzed by an independent third-party laboratory over the next 2- 3 months to define net pay and a basis for the evaluation of this interval.
Wei-1 was drilled by the ultra-deepwater semi-submersible Noble Discoverer (formerly Maersk Discoverer). The unit is expected to be released in early July.
In 2021/2022, CGX successfully drilled its operated exploration well, Kawa-1, in the eastern channel sand complex identified in the northern segment of the Corentyne block. Success at Kawa-1, with 228 feet of net pay, proved an active hydrocarbon system that extends over a 6000 ft column, with preservation of good porosity at depth and helped de-risk additional prospects in the block.
CGX is a Canadian-based oil and gas exploration company based in Toronto focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana.
(Source: CGXZ Energy – Image: Noble Discoverer/O. Gjerstad)