Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

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.


TSXV:OYL - Post by User

Post by Devanand1on Jan 27, 2022 7:31am
166 Views
Post# 34365701

Guyana’s Oil Production To Increase Three-Fold Next Month

Guyana’s Oil Production To Increase Three-Fold Next Month

Exxon plans to begin oil production from a second platform offshore Guyana next month, Reuters reported this week, citing an unnamed source familiar with the company’s plans.

The second production facility would increase Guyana’s oil output threefold to 340,000 bpd, the report noted, adding that a third production facility—a floating production, storage and offloading vessel—was under construction currently.

The news about the production boost comes a couple of weeks after the announcement of more discoveries off Guyana's shore.

Exxon struck high-quality oil and hydrocarbon-bearing sandstone reservoirs at the Fangtooth-1 and Lau Lau-1 wells in the block off Guyana, which continues to be one of the U.S. corporation’s priority exploration and production areas for the next few years. The new production facility will pump oil from these two wells.

“Both discoveries increase our understanding of the resource, our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to 10 development projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.

This followed another new oil discovery announcement made last September, which was the 20th discovery since Exxon and its partner Hess Corp. began exploring in the Stabroek Block in Guyana, turning the tiny South American country into the newest star on the global oil map.https://oilprice.com/Energy/Crude-Oil/Guyanas-Oil-Production-To-Increase-Three-Fold-Next-Month.html

<< Previous
Bullboard Posts
Next >>