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CGX group sees petroleum system offshore Guyana

CGX Energy Inc., Toronto, found water-bearing sandstones with hydrocarbon shows in the Eagle-1 wildcat on its 100% owned Corentyne Petroleum Prospecting License offshore Guyana.

Eagle-1 went to a total depth of 4,328 m in Upper Cretaceous (Maastrichtian) in an 8½-in. hole and with synthetic oil-base drilling fluid.

During drilling it encountered oil and gas shows through the objective Eocene and Maastrichtian geologic zones and in the yet to be confirmed Oligocene zone indicating an active petroleum system where generated hydrocarbons have migrated through the pre-Miocene section drilled by the well.

Wireline logs provided encouraging results with high resistivities correlating with sandstones that had encountered oil shows, but further open hole logs were necessary to determine the nature of the fluids in those zones. Hence, combinable magnetic resonance and modular formation dynamics logs were run and both identified the presence of good quality sandstone reservoirs that proved to be water-bearing.

Further analyses are needed to verify the geological age of the drilled section and the chemical composition of the recovered fluids, CGX said. Weather and mechanical issues added 30 days to the initial 60-day drilling time, pushing the estimated well cost to $71 million from $55 million.

CGX said the well gathered valuable information that will assist it in determining the next well to be drilled on the Corentyne PPL and for other future targets. The company’s geosciences team interpreting the recently shot 3D seismic has identified other prospects and has established that the updip termination of the Eagle Deep Turonian prospect is shallower than initially thought.

Meanwhile the Repsol Exploracion SA-operated Jaguar-1 well on the Georgetown PPL is drilling as planned toward a total depth of 6,500 m to test the Turonian. Spudded Feb. 9, 2012, its projected drilling time is 180 days. Partners are CGX, YPF Guyana Ltd., and Tullow Oil PLC.


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