CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.

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CGX Energy Inc > Re Ai Algorithm predictions

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Comment by westcanprideon Dec 31, 2021 10:59am

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Post# 34273788

RE:Re Ai Algorithm predictions

Hi Taal,
Oil in place, at a very high-level, is calculated using the following variables:

A= area, acre
h = reservoir thickness, ft
= rock porosity, %
Swc =connate water saturation, %
Boi = oil formation volume factor, rb/stb

For Kawa, let's calculate, using 100 ft of net pay and making asumptions for the other variables.

7758= acre-ft to bbl conversion factor
A= 10,173 acres (based on Horizon 23 seismic on CGX website)
H= 100 ft
Por= 25% (good reservoirs usually variable between 20-30%)
Swc= 30% (using examples from GoM and North Sea)
Boi= 1.3 (using examples from Gom and North Sea)

STOOIP= 7758 * 10,173 * 100 ft * .25 * (1-.30) / 1.2
STOOIP= 1.06 Billion barrels in place

Recovery factor is usually 20-30% of total in place volumes:

STOOIP= 1.06 Billion Barrels * .25 = 265 Million Barrels

Hope this helps. The variables I presented above easily can change as well and depend on many variables. Link below is a great example for those that wish to read further.

https://huskyenergy.com/downloads/areasofoperations/eastcoast/DevelopmentApplication/Vol2_Hydrocarbons.pdf