ExxonMobil Guyana said on Tuesday it will be looking to evaluate results from the Tanager-1 well at the Kaieteur Block offshore Guyana where hydrocarbon resources discovered were not in commercial quantities.
“We can confirm that Tanager-1, the first well in the Kaieteur Block offshore Guyana, encountered hydrocarbons but based on initial analysis it does not appear to be economic on a standalone basis,” Janelle Persaud, ExxonMobil Guyana Public and Government Affairs Advisor said.
The well was drilled to a total depth of 7,633 metres. Evaluation of LWD, wireline logging and sampling data confirm 16 metres of net oil pay in high-quality sandstone reservoirs of Maastrichtian age. Although high quality reservoirs were also encountered at the deeper Santonian and Turonian intervals, interpretation of the reservoir fluids is reported to be equivocal at this stage and requires further analysis.
“We will evaluate the data we have gained through additional tests and analysis and will continue exploration activities across our acreage offshore Guyana, including in the high-risk frontier areas such as the Kaieteur and Canje blocks,” Persaud stated.
The Tanager-1 results confirm the continuance of a Cretaceous petroleum system and the Liza play fairway onto the Kaieteur Block, down dip from the prolific discoveries on the neighbouring ExxonMobil operated Stabroek Block.
ExxonMobil is operator at the Kaieteur Block and holds 35% interest with Cataleya Energy Limited holding 25%, Ratio Guyana Limited 25%, and Hess 15%. Westmount holds approx. 5.4% of the issued share capital of Cataleya Energy Corporation and around 0.7% of the issued share capital of Ratio Petroleum Energy Limited Partnership.