CGX, Frontera spud well offshore Guyana
(WO) — CGX Energy Inc. and Frontera Energy Corporation (“Joint Ventures”) have spud the Wei-1 well on the Corentyne block, approximately 200 km offshore from Georgetown, Guyana. CGX Energy and Frontera Energy are joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana.
The Wei-1 well is approximately 14 km northwest of the partners’ previous Kawa-1 light oil and condensate discovery. The Wei-1 well will be drilled in a water depth of approximately 1,912 ft. to an anticipated total depth of 20,500 ft.
The well will target Maastrichtian, Campanian and Santonian-aged stacked sands within channel and fan complexes in the northern section of the Corentyne block. It will take approximately 4-5 months to reach total depth.
The partners also announced that the Government of Guyana has approved an Appraisal Plan for the northern section of the Corentyne block, which commenced with the Wei-1 well. Following the completion of Wei-1 drilling operations, the parners may consider future wells to evaluate possible development feasibility in the Kawa-1 discovery area and throughout the northern section of the Corentyne block.
Orlando Cabrales, Chief Executive Officer of Frontera, commented, "We are very excited about the potentially transformational opportunity that is now before us on the Corentyne block in one of the most exciting exploration areas in the world and we look forward to safely and successfully drilling the Wei-1 well and potentially extending the Joint Venture's recent light oil and condensate discovery at the Kawa-1 well."