Frontera, CGX completes bypass well drilling offshore Guyana
(WO) – Frontera Energy Corporation announced that the joint venture with CGX Energy Inc. has successfully reached total depth of 20,450' on the Wei-1BP1. The original Wei-1 wellbore reached a depth of 19,142'.
A bypass well (Wei-1BP1) was drilled from 18,757' to total depth and penetrated the primary Santonian targets of the Well in the western complex in the northern portion of the Corentyne block.
Prior to the bypass, the Well encountered an aggregate of approximately 71 ft of net oil pay in the secondary target reservoirs in the Maastrichtian and Campanian.
Following the bypass, data collected from LWD (Logging While Drilling) and cuttings indicate multiple hydrocarbon shows in the primary target reservoirs in the Santonian interval. Results from the well are encouraging: data acquisition is ongoing via wireline logging, MDT's and side wall core sampling. An update on Well results will be provided when the acquisition and evaluation has been finalized.
Results from the Well are consistent with pre-drill expectations. The Well has confirmed the company's geologic and geophysical assessment of the block.
As operations continue, the Joint Venture has revised its total Wei-1BP1 cost estimates to approximately $190-$195 million to complete the logging runs, finish well operations, and release the rig. The additional costs are primarily due to the lost sampling tool and the drilling of the bypass well.
The Well was drilled by the Joint Venture. CGX holds a 32.00% participating interest with Frontera holding the remaining 68.00% participating interest in the Corentyne block offshore Guyana.