CGX Energy Inc. rescheduled exploration activities in Corentyne block, offshore Guyana. Subject to documentation, the government of Guyana is expected to extend by 1 year the deadline to drill the next well to Nov. 27, 2021.
The joint venture identified two potentially highly prospective large channel sand reservoir complexes from recently processed 3D seismic data in the northern region of the block. This region is near Stabroek block, Guyana, and Block 58, offshore Suriname. The prospects, mapped within the Upper Cretaceous, Santonian, and Miocene intervals, are primarily stratigraphic traps composed of sandstone accumulations and deemed analogous to many of the discoveries in Guyana basin spanning both Guyana and Suriname.
The Corentyne block covers 1.125 million net acres in shallow water. During 2012 drilling to assess Corentyne’s potential, CGX found water-bearing sandstones with hydrocarbon shows in the Eagle-1 wildcat. CGX then owned 100% of the license.
CGX is operator in Corentyne with joint venture partner Frontera Energy.