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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. 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 Feb 20, 2022 5:21am
366 Views
Post# 34445907

New well set to be drilled in Kanuku block in May

New well set to be drilled in Kanuku block in May

Oil exploration within the Repsol-operated Kanuku Block, offshore Guyana, is set to continue with the spudding of the Beebei-Potaro well in May.

 

In a statement released last Wednesday, offshore drilling contractor Noble Corporation disclosed that it was awarded a one-well contract by Repsol to commence the drilling of the Beebei-Potaro well in May, 2022.

The spudding of the Beebei-Potaro well will follow that of the Carapa-1 well, which was drilled in a water depth of 80 metres. Four metres of net oil pay containing good quality low sulphur oil, but in poorly developed reservoirs of Cretaceous age was discovered.https://www.stabroeknews.com/2022/02/20/news/guyana/new-well-set-to-be-drilled-in-kanuku-block-in-may/

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