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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 Dec 15, 2024 7:27am
211 Views
Post# 36362896

Exxon’s lonewolf discovery for 2025: Bluefin

Exxon’s lonewolf discovery for 2025: Bluefin

In a year marked by steady development of existing projects, ExxonMobil Guyana made just one new discovery to its Stabroek Block pile – Bluefin-1. 

The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was drilled by the Stena Drillmax drillship in 4,244 feet (1,294 meters) of water. Bluefin is located approximately 8.5 kilometers southeast 

of the Sailfin-1 well, in the southeastern portion of the Block.

Marking the discovery, ExxonMobil Guyana President Alistair Routledge said it reinforces that the company has the “people, skills and technology to safely and responsibly deliver value to Guyana from the country’s resources.” 

Bluefin added to the over 30 discoveries made in Guyana’s Stabroek Block, by Exxon, the operator. The discoveries amount to more than 11.6 billion oil-equivalent barrels. Exxon has a 45% stake, while Hess (30%) and CNOOC (25%) are its partners.

The company has three developments running in the Stabroek Block. A new one – Yellowtail – will be added come 2025. 

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