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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

Comment by Kelvinon Mar 14, 2024 5:14pm
152 Views
Post# 35933642

RE:RE:Harel1976

RE:RE:Harel1976 It's not so much the high pressures that are a challenge, it's the pressure inversions in the Campanian that Kevin Lacey talked about in the fec/cgx May 2022 webinar that were a drilling challenge. And how do you complete something like that? Multizone completion I guess which is a very complex design. Anyway, my guess is that prospective buyers are sorting all of this out which is probably taking some time to do. I think that it was Devanand who recently posted a story about XOM Yellowtail development. $10 billion dollars, 67 wells (production, water, gas injection wells), tie backs to FPSO covering I forget how many square miles. 225,000 bbl/day output. These projects are massive!
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