Friday, September 29, 2023

CGX hypes up Wei-1’s proximity to 14 Guyana, Suriname discoveries

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CGX Energy is preparing to spud the Wei-1 well in the Corentyne Block in October, confident in the placement of the prospect in the Northern section of the acreage, where it is flanked on various sides by a series of commercial discoveries in the Guyana-Suriname Basin.

CGX demonstrated in a presentation last week that to the north and northwest of Wei-1 well lies recent Stabroek Block discoveries in several Cretaceous horizons, namely Lau Lau, Lukanani, Barreleye, Fangtooth, Seabob, Kiru Kiru, Pluma and Haimara. These discoveries have contributed to approximately 11 billion oil-equivalent barrels found so far by the Stabroek Block partners. It said the North Corentyne area is on trend with the “Golden Lane” of discoveries in Guyana’s largest license.

Then, in TotalEnergies’ Block 58, five discoveries were made, namely Maka, Kwaskwasi, Sapakara, Keskesi and Krabdagu. CGX said the discoveries amount to 1.7 billion oil-equivalent barrels, and that North Corentyne is in line with this Campanian/Santonian trend.

CGX also noted its own discovery made in the Corentyne Block’s northern area, called Kawa. Following the release of updated results on this well, CGX and its joint venture partner, Frontera Energy, said the chance of success at Wei increased from 29% to 56%.

The partners were granted an environmental permit to drill the Wei-1 exploration well by Guyana’s Environmental Protection Agency (EPA).

They also confirmed a definitive agreement with Maersk Drilling for the use of the Maersk Discoverer for the October operation.

The Wei-1 exploration well will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 (6,248 metres) and will target Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block.

London-based energy intelligence firm, Westwood Global Energy, has called Wei-1 a ‘large, high-impact’ prospect and a ‘key well to watch’.

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