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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 22, 2022 5:49am
298 Views
Post# 34449215

Exxon targeting hydrocarbons at multiple wells – Lukanani-1

Exxon targeting hydrocarbons at multiple wells – Lukanani-1

In keeping with the Guyana government’s stated position of accelerating exploration and production activities offshore, ExxonMobil is forging ahead with its 2022 work plan, targeting multiple wells at the prolific Stabroek Block where it has already found more than 10 billion barrels of oil equivalent resources.

The Noble Tom Madden is set to undertake exploration drilling operations at the Lukanani-1 well site located approximately 105.56 nautical miles offshore, covering an area of 0.29 square nautical miles (1 square kilometre).

Lukanani-1 is the latest in a series of new prospects being targeted by ExxonMobil in the Guyana basin. It follows ongoing campaigns at Patwa-1  and Tarpon-1, both at the Stabroek Block.

Exploration activities have also been ongoing at Barreleye-1 situated approximately 90.87 nautical miles (167.98 kilometers) offshore, also at the Stabroek Block, covering an area of 0.29 square nautical miles.

OilNOW understands that the appraisal progamme planned for 2022 will be focused on delineating future developments. First quarter appraisal activities will include the Tilapia-2 appraisal well, located approximately 24 miles southeast of Liza-1. Exxon will also conduct drill stem tests at Tilapia-1 and Pinktail-1.

Earlier last month, the oil major announced discoveries at Fangtooth-1 and Lau Lau-1.

Guyana’s Vice President Dr. Bharrat Jagdeo made it clear just last week that the government wants this success to continue and is working to ensure the South American country is best positioned to help meet the oil and gas demand in the coming years, even as it supports net-zero by 2050.

https://oilnow.gy/featured/exxon-targeting-hydrocarbons-at-multiple-wells-lukanani-1-to-come-under-drill-bit/

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