'Encouraging' Drilling Result Offshore Guyana as Frontera, CGX Wei Well Reaches Total Depth

Frontera Energy Corporation, in partnership with CGX Energy, said Tuesday it had reached total depth (TD) of 20,450' on the Wei-1 bypass exploration and appraisal well (Wei-1BP1), offshore Guyana.

The original Wei-1 wellbore reached a depth of 19,142'. A bypass well (Wei-1BP1) was drilled from 18,757' to total depth (TD) and penetrated the primary Santonian targets of the Well in the western complex in the northern portion of the Corentyne offshore block.

Before the bypass, the Well encountered an aggregate of approximately 71 feet of net oil pay in the secondary target reservoirs in the Maastrichtian and Campanian.

Following the bypass, according to Frontera, 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," Frontera said.

According to the company, results from the well are consistent with pre-drill expectations, and have confirmed the Frontera Energy Corporation's geologic and geophysical assessment of the block.

The consortium is using Noble Corp's (formerly Maersk) Noble Corp Discoverer semi-submersible mobile drilling unit for the operation.

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, Frontera said.

CGX holds a 32.00% participating interest with Frontera holding the remaining 68.00% participating interest in the Corentyne block, offshore Guyana.

The companies previously said that the Wei-1 well was "on-trend and positioned for success with both Kawa-1 and recent peer discoveries immediately adjacent to the northern section of the Corentyne block. "