Frontera Energy Corporation and CGX Energy Inc, partners in the Corentyne block offshore Guyana, have been given more time to drill the Wei-1 exploration well.
Under the Corentyne block license terms, the joint venture was previously required to spud Wei-1, the second of two commitment wells on the block, by November 27, 2022.
However, the companies have agreed with the Government of Guyana for the Wei-1 well to be spudded no later than January 31, 2023. The JV will use Noble Corp's (formerly Maersk) Noble Corp Discoverer semi-submersible mobile drilling unit.
Fronters said Monday that the final preparations were complete in advance of spudding the Wei-1 well, which follows the discovery of light oil and gas condensate at the Kawa-1 well earlier this year.
The Wei-1 well will be located approximately 14 kilometers northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana, and will be drilled in water depth of approximately 1,912 feet (583 meters) to an anticipated total depth of 20,500 feet (6,248 meters).
The Wei-1 well will target Maastrichtian, Campanian, and Santonian-aged stacked channels in a western channel complex in the northern section of the Corentyne block.
Orlando Cabrales, Chief Executive Officer of Frontera, said:"The Joint Venture remains firmly committed to drilling the Wei-1 well and we are grateful for the ongoing support from the Government of Guyana as we mutually work to unlock the potentially transformational opportunity before us at Corentyne. Significant investment, planning and work has been completed in preparation to drill Wei-1 and we are ready to drill the well upon rig arrival in one of the most exciting exploration areas in the world."