CGX Energy Inc. and joint venture partner Frontera Energy Corp. are preparing to drill their second exploration well, Wei-1, in the Corentyne block, about 200 km offshore from Georgetown, Guyana, and about 14 km northwest of the Kawa-1 exploration well.
Wei-1 will be drilled in about 1,912 ft (583 m) of water to a targeted total depth of 20,500 ft (6,248 m) and will target Maastrichtian, Campanian, and Santonian aged stacked channels in a western channel complex in the northern section of the block (OGJ Online, May 10, 2022).
The well will spud third-quarter 2022.
Frontera has, in principle, reached an agreement with the government of Guynana to relinquish Demerara block through a mutual termination agreement. Terms are yet to be defined and documented. The agreement will allow Frontera to focus on Corentyne and let the Government of Guyana find a party to develop Demerara block, the company said in a June 17 release.