22 C
Georgetown
Wednesday, November 25, 2020

It will take several wells to define Kaieteur Block opportunity – Hess

Must Read

Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans

Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020,...

Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage

UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow...

South America’s new O&G deepwater players positioning for big opportunities

The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Speaking just days before the results from the Tanager-1 prospect was announced, John Hess, CEO of Hess Corporation, a 15% stakeholder in the Kaieteur Block, said it will take several wells for the co-venturers to define the opportunity in that acreage.

Tanager-1 reached a total depth of 7,633 metres and evaluation of LWD, wireline logging and sampling data confirm 16 metres of net oil pay in high-quality sandstone reservoirs of Maastrichtian age. However, it was determined that the volume of oil available in the stated stratum does not justify production as a stand-alone reservoir.

“First, we need to drill a huge area and we need to drill several wells there,” Hess told investors. “We see the sand channels from Stabroek going into it and finding the right reservoirs with the right plumbing system on hydrocarbons is going to be key.”

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.

OilNOW understands a substantial prospect inventory has already been mapped from a 3D seismic survey across the 5,750 km2 acreage which was carried out in the southern part of the Kaieteur Block in 2017.

“It’s going to take several wells for us to define that opportunity,” Hess said, adding that the co-venturers are in the initial phases of drilling with several wells still to be targeted.

A detailed evaluation of the data collected at Tanager-1 is expected to be undertaken with a view to understanding the well result, re-calibrating the seismic model for that part of the basin and high grading the next potential drilling targets.

ExxonMobil is operator at the Kaieteur Block with 35% interest, Cataleya Energy Limited 25%, Ratio Guyana Limited 25%, and Hess 15%.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage

UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow...

Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards

With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services...

Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans

Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil...

South America’s new O&G deepwater players positioning for big opportunities

The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying...

U.S hedge fund plugs US$30 million into junior firm with stake in Kaieteur block

(Reuters) - Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration...

More Articles Like This