Additional prospects in Guyana’s Corentyne Block could be tapped but this hinges on results obtained by operator CGX Energy from its Wei-1 appraisal, the company said on August 14.
Frontera Energy is the other partner in the Corentyne Block.
Wei-1 falls under CGX’s 24-month appraisal programme, approved back on June 29 after a discovery at Kawa-1 in the northern Corentyne area. The programme covers an area of 993.9 km2.
“Following completion of Wei-1 well and upon detailed analysis of the results, the Joint Venture may consider future wells per its appraisal program to evaluate possible development feasibility in the Kawa-1 discovery area and throughout the northern section of the Corentyne block,” the company outlined in its financial statements.
CGX says Kawa was a ‘finders well’, opportunity unlocked not being ‘abandoned’
CGX has no further drilling obligations beyond the Wei-1 well. Its appraisal programme was granted up to June 28, 2024. Its potential decision to drill more could occur during that period.
Back in June 11, Wei-1 well reached a total depth of 20,450 feet; wireline logging operations were completed on June 23. Drilling was completed on July 5 by the Noble Discoverer rig. The Wei-1 well encountered an aggregate of 77 feet of net oil pay in the Maastrichtian and Campanian intervals. CGX encountered 210 feet of hydrocarbon-bearing sands in the Santonian horizon. Wirelogs and extensive core samples from the Santonian were obtained, but it said a tool failure downhole and absence of a “back-up tool prevented collection of oil samples”.
CGX said the Santonian rock and fluid properties are being analysed by “an independent third-party lab.” Over the next two months, it should be able to define the net pay and basis for the evaluation of that interval. CGX said that a comprehensive logging campaign in the Maastrichtian interval indicated the presence of medium-sweet crude oil of 24.9 API. The downhole fluid analysis confirmed light crude oil in the Campanian interval.
For now, CGX said it is uncertain whether the find at Wei-1 is enough to underpin commercial development in that part of the Corentyne Block. An ongoing analysis has two months left to present some valuable results.
