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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

CGX Energy Inc. is a Canada-based oil and gas exploration company. The Company is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in the Berbice, Guyana. The Company holds interests in three petrol prospecting licenses, such as Corentyne, Berbice, and Demerara Blocks in the Guyana Basin. The Company has drilled two operated exploration wells on its offshore Corentyne Block and drilled three more exploration wells on its onshore Berbice Block. In addition, it has acquired and processed over 7,000 square kilometers of three-dimensional (3D) seismic data on its offshore licenses. The Company through its wholly owned subsidiary, Grand Canal Industrial Estates Inc. The Company is engaged in the development of the Berbice Deep Water Port in Region 6, Guyana. Its other subsidiaries include CGX Resources Inc., ON Energy Inc., and others.


TSXV:OYL - Post by User

Post by ljmorinon May 12, 2021 9:56am
197 Views
Post# 33181817

Discoverer

Discoverer

 

Maersk Drilling awarded one-well exploration contract for Maersk Discoverer

Maersk Drilling has been awarded a one-well contract by CGX Resources Inc., operator and joint venture partner with Frontera Energy Guyana Corp, for the semi-submersible rig Maersk Discoverer to perform exploration drilling in the Corentyne Block offshore Guyana.

Maersk Drilling awarded one-well exploration contract for Maersk Discoverer

The contract has an estimated duration of 75-85 days and is expected to commence in third quarter 2021, in direct continuation of the rig’s current work scope.  The contract contains one firm-well in the Corentyne Block and one optional well for the Demerara Block. The optional well has an estimated duration of 40 days. Maersk Drilling and CGX are in discussions to add additional services and performance incentives to the scope.

“It’s the first time we are working for CGX and we are honored to join forces with their team in the Caribbean basin. Guyana is home to some very promising offshore projects and it’s close to our other customers and projects in the region. The D-rig series is particularly well suited to fill special niches around the Americas with its versatile capabilities of both being able to work in a moored and a dynamically-positioned mode. With this contract, Maersk Discoverer is fully booked throughout 2021 allowing us to continue to build and leverage the experience of the crew as well as the special technical characteristics of the rig,” says COO Morten Kelstrup of Maersk Drilling.

Maersk Discoverer is a DSS-21 column-stabilised dynamically positioned semi-submersible drilling rig, able to operate in water depths up to 10,000 ft. It is currently operating offshore Trinidad and Tobago for BP. Following the contract with CGX, the rig will commence a contract with BG International, a subsidiary of Shell, in Trinidad and Tobago as stated in Maersk Drilling’s recent fleet status report.

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