CGX Energy Inc V.OYL

Drilling of Wei-1 well to begin in May – CGX

[mark92]

The drilling of the Wei-1 well in the Corentyne block, offshore Guyana, is slated to run from May to August this year but could be extended if hydrocarbons are encountered, according to CGX Resources Inc (CRI).

 

CRI is a wholly-owned subsidiary of CGX Energy Inc.

CGX is undertaking oil exploration activities in the offshore Corentyne and Demerara blocks with its joint venture partner Frontera.

https://www.stabroeknews.com/2022/04/03/news/guyana/drilling-of-wei-1-well-to-begin-in-may-cgx/

[Coloradobuff]

Wei1 drills in may. So really no reason to speculate on anything for months after that. This board will probably be quiet.  One question, is wei going to be a commercial well or an exploratory well like the last one 

[jtdd]

From what I understand, I believe the first well at any new site is an exploratory well. If they find oil, I think they can determine if it would be a commercial find or not. If commercial, then they drill appraisal/production wells.

[ljmorin]

I guess one thing I am trying t wrap my head around is wasn't EXXON's Lisa an exploration well, that is producing now. Does anyone knw if they did a P&A and then re-entered and turned it into a producer. I cant remember exactly how that played out? lj

[Schreibzey]

https://www.offshore-energy.biz/exxonmobil-encouraged-by-oil-discovery-offshore-guyana/ This is about the best I could find in a few moments of looking. No mention of API or other. 

[SportyJ]

It was I that stated Liza 1 was a producer. Based on https://youtu.be/5ovzH3f3iQ4 which is an amazing recap of Liza by Linda Price of Exxon. About the 37 min mark an Exxon map shows Liza 1, 2 and 3 as producers. However after privately messaging with smart people on this board (you know who you are) we determined that the map was most likely wrong and that Liza 1 disc and 2 & 3 appraisals were

[jtdd]

Apparently, the first drill on Liza was an exploration well that was plugged and abandoned, that's standard practice. Then, appraisal wells and production wells were drilled.

[JS4900]

I hope it's true that Wei-1 will start drilling as early as May. It looks like quite an interesting and large stacked fan complex. - jmo

[jada13]

JV or Buyout. Tick talk tick talk tick talk.one of these days. Glta