CGX announces discovery at Wei-1 in second successful campaign offshore Guyana

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CGX Energy Inc. and Frontera Energy Corporation announced on Wednesday an oil discovery at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore Guyana. The Joint Venture said it has successfully finished drilling operations without any safety incidents and expects to release the drilling rig in early July 2023.

“The Wei-1 well encountered 210 feet of hydrocarbon bearing sands in the Santonian horizon. The Joint Venture acquired wireline logs and extensive core samples from the Santonian, however, due to a tool failure downhole and a new tool not being available, oil samples were not obtained,” CGX stated.

The company said the rock and fluid properties of the Santonian will now be analyzed by an independent third-party laboratory over the next 2-3 months to define net pay and a basis for the evaluation of this interval.

The Joint Venture has updated its previously announced discovery in the Maastrichtian and the Campanian intervals to 77 feet of net pay. Fluid samples were retrieved from the Campanian and Maastrichtian indicating the presence of light crude in the Campanian and sweet medium crude oil in the Maastrichtian.

The Joint Venture’s data acquisition program included wireline logging, MDT fluid samples and sidewall cores throughout the various intervals. Over the next few months, results will be integrated into the geologic and geophysical models to form an updated view of the entire northern portion of the Corentyne block.

The northern portion of the Corentyne block includes the channel complexes discovered by the Kawa-1 and Wei-1 wells, and a prospective central channel complex, which is yet to be evaluated.

CGX Executive Co-Chair explains significance of Kawa-1 – one of the deepest wells drilled in the Guyana basin

“The Joint Venture is excited by the definitive presence of oil in the Maastrichtian and Campanian and the presence of hydrocarbons in the Santonian and believes there is significant potential in the block,” the release from CGX said.

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