CGX Resources Inc. said Monday that its joint venture with Frontera Energy Corp. was granted an environmental permit for drilling of the Wei-1 exploration well by Guyana’s Environmental Protection Agency (EPA).
The company also confirmed its definitive agreement with Maersk Drilling for the use of the Maersk Discoverer for the October operation.
The Wei-1 exploration well will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 (6,248 metres) and will target Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block.
London-based energy intelligence firm, Westwood Global Energy, has called Wei-1 a ‘large, high-impact’ prospect and a ‘key well to watch’.
Following updated results on the Kawa-1 well, that noted the discovery of light oil and gas condensate, the partners had said that chances of success at Wei-1 nearly doubled from 29% to 56%.