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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

Comment by Kelvinon Jun 23, 2023 11:46am
169 Views
Post# 35511351

RE:RE:RE:RE:RE:Kawa News Flow

RE:RE:RE:RE:RE:Kawa News FlowSporty, Kevin Lacey said that they pushed the mud system to the limits when they weighted-up to kill the kick in the Coniacian at TD at Kawa. Probably synthetic based mud (parrafin based). To take the mud to it's pumpable limits it probably had a density of around 18 to 19 ppg. So we're talking formation pressures of around 18,000 psi in the Coniacian at Kawa. They didn't want to make any mistakes there so they took their time.

Wei didn't penetrate the Coniacian. I don't know the mud weight that they drilled the Santonian at. Someone mentioned 15.4 ppg while drilling Kawa. So assuming 15.4 ppg for Wei Santonian we're talking around 16,000 psi formation pressure. So they won't want to mess around with that and will take their time as well. Don't want another Deepwater Horizon.

Before anybody jumps on me, yes I know that the Discoverer's BOPs are only good to 15,000 psi. They'll never see 15,000 psi even with a hole filled with Coniacian oil coming in at 18,000 psi. The hydrostatic head of the oil column in the hole will counteract at least 7,000 psi of the 18,000 psi leaving only 11,000 psi acting on the BOPs so we're good.

On Macondo they displaced the well from high density mud to seawater when the cement plugs were still wet. They hadn't set yet. They might as well have not even been there. The formation oil surged into the well bore at pressures and velocities so high that it started blowing drill string out of the hole. You cannot shut in the BOPs against drill pipe moving at 100 miles per hour. 
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