Latest update February 22nd, 2025 2:00 PM
Latest News
- $277.9M Mabaruma Magistrates’ Court commissioned at Mabaruma
- Min. Indar scolds contractors over unsanctioned works days after VP Jagdeo called out ministry’s shoddy management of construction sites
- White House expects Ukraine to sign critical minerals deal soon
- Simplify cash grant distribution processes
- Peacemaker chopped after intervening in argument
First well in Canje block yields non-commercial discovery
Canje Block (Photo: JHI Associates)
Kaieteur News – Westmount Energy, an indirect shareholder in the Canje block, announced on Thursday that ExxonMobil made a discovery at the Bulletwood-1 well, determined to be non-commercial. This, Westmount said, is according to a shareholder communication from JHI Associates, a company with a 17.5 percent stake in the Exxon-operated block.
Esso Exploration and Production Guyana Limited (EEPGL), ExxonMobil’s local subsidiary, said “Bulletwood-1, the first well in the Canje block, has confirmed our seismic interpretation of the geology and shown evidence of non-commercial hydrocarbons.”
The well “was safely drilled in 2,846 meters of water by the Stena Carron drillship to its planned target depth of 6,690 meters. The well encountered quality reservoirs but non-commercial hydrocarbons…” Westmount said.
Westmount said that data collection at Bulletwood-1 confirms the presence of the Guyana-Suriname basin petroleum system and the potential prospectivity of the block. Canje is estimated to hold about 10 billion oil-equivalent barrels. Bulletwood-1, the first of three Canje wells planned for exploration in 2021, was estimated to hold a few hundred million barrels. Drilling of Jabillo-1 and Sapote-1 will follow in the coming months.
ExxonMobil is the Canje operator with 35 percent interest, while Total, JHI and Mid-Atlantic hold 35 percent, 17.5 percent and 12.5 percent respectively. Westmount has about 7.7 percent interest in the issued share capital of JHI.
ExxonMobil had also made a non-commercial discovery in November 2020 at the Tanager-1 well in the Kaieteur block. Both wells were the first in their respective blocks to be drilled.
ExxonMobil also operates the Kaieteur block with 35 percent interest, while Ratio Petroleum, Cataleya and Hess hold 25 percent, 25 percent and 15 percent respectively.
“Geologic risk is inherent to frontier oil and gas exploration activities. Every well in frontier oil and gas exploration provides invaluable data to inform future activities,” ExxonMobil’s Government and Public Affairs Advisor, Janelle Persaud, said on Thursday. “Our exploration success in Guyana is 80 percent with 18 discoveries on the Stabroek block.”
ExxonMobil said it would continue to leverage its expertise and technology to explore the “high risk frontier areas” in the Canje and Kaieteur blocks. The Stena Carron drillship, which explored Bulletwood-1, will move to the Stabroek block for exploration there. Chief Operating Officer at Hess Corporation, a company with interest in Stabroek, said in January that ExxonMobil plans a 12-15 well drilling campaign there this year.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
The clock and the cloud
Peeping Tom… Kaieteur News- Time, as the ancients knew, is a trickster. It slips through the fingers of kings and commoners... more
CARICOM Nations Should Respond Together To new U.S. Policies
By Sir Ronald Sanders Ambassador to the US and the OAS, Sir Ronald Sanders Kaieteur News-Two Executive Orders issued by U.S.... more
Weekend Cartoon
