CGX Energy Finds Oil Pay in Corentyne Block Off Guyana
Well and sidetrack encountered pay in the targeted Santonian interval.
CGX Energy encountered 71 ft of net oil pay in the secondary targets of its Wei-1 well, drilled to a total depth of 19,142 ft. A bypass well, Wei-1BP1, drilled to 20,450 ft penetrated the primary Santonian targets in the western complex in the northern portion of the Corentyne block.
Following the bypass, data collected from logs and cuttings indicated multiple hydrocarbon shows in the primary target reservoirs in the Santonian interval. The company said the results were encouraging, and data acquisition is ongoing via wireline logging and sidewall core sampling. Results from the well were consistent with pre‑drill expectations.
As operations continue, the joint venture has revised its total Wei‑1BP1 cost estimates to approximately $190 million–$195 million to complete the logging runs, finish well operations, and release the rig. The additional costs are primarily due to a lost sampling tool and the drilling of the bypass well.
The well was drilled by CGX and Frontera Energy Corp. CGX holds a 32% participating interest with Frontera holding the remaining 68%.