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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 Aug 20, 2024 9:51am
159 Views
Post# 36187638

RE:RE:RE:RE:now i hope

RE:RE:RE:RE:now i hopeFrank, Yeah that was the Eagle1 well and it was an American rig, the Saratoga. If you're referring to Jaguar 1 well of which cgx had 25% interest rig was another Amerucan rig the Atwood Beacon. I worked on it in the Bay of Bengal and offshore Suriname.

There was no extreme pressure at Eagke1. What there experienced is a pressure inversion. The pore pressure normally increases with depth. If the pore pressure is abnormally high then it requires sn increase in the mud weight. Then when the pore pressure drops (an inverdiln) the hydrostatic head of the mud fluid column is too high and you lose fluid to tye formation which reduces the hydrostatic head allowing formation fluids to enter the wellbore (kick).

But CGX designed their well at Eagle1 such that they prevented a repeat of what happened at Shell Arbary. They achueved the same success at Kawa and Wei. They talked about this in their May 2022 webinar. Kevin Lacey and Regan Palgrove explsined why theses pressure inversions occur and why they don't occur in Stabroek. Kind of complucated so I'll defer to the experts on that.

Anyway, I think that these inversions may be playing a role in the completions design. Maybe that's the hang up. I don't know. Just guessing. Agsin I'll defer to the experts.
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