CGX may drill more wells at Corentyne Block after Wei-1

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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. 

Frontera eats up more of CGX’s shares in Corentyne Block to offset increased costs for Wei-1 drilling 

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. 

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