CGX to begin hazard assessment at Utakwaaka-1

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CGX Energy Inc. is set to begin a shallow hazard survey at its Utakwaaka-1 well site offshore Guyana ahead of a drill campaign scheduled to get underway by or before November 2019.

Guyana’s Maritime Administration Department said the operation, which will begin on March 15 and conclude on March 29, will incorporate the use of the MV Markman.

The survey site is approximately 68 nautical miles from the coast of Guyana at the Corentyne Block and covers an area of approximately 16 square kilometers.

Before picking an exact drilling location, E&P companies utilize hazard surveys to look for geologic hazards on the seabottom and in the shallow subsurface that could affect the drilling of a well. Features such as a steeply dipping or unstable seabottom are hazardous and must be avoided in positioning the rig.

CGX Energy Inc. announced in December 2018 that it had entered into a definitive rig agreement with ROWAN RIGS S.À R.L for the provision of rig services for the drilling of the Utakwaaka-1 well.

The Corentyne block contains 1,125,000 net acres offshore Guyana in shallow water, adjacent to the ExxonMobil Stabroek block which has encountered a record 12 discoveries since May 2015. The Utakwaaka well is required to be drilled by November 27, 2019 with an additional exploration well to be drilled by November 27, 2022.

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