Offshore Guyana exploration well targets Turonian play

Offshore staff

TORONTO – The jackup Atwood Beacon has spudded Repsol’s Jaguar-1 on the Georgetown Petroleum Prospecting License offshore Guyana.

According to partner CGX Energy (OYL:CN), the well will be drilled to a depth of 6,500 m (21,325 ft) to test the Turonian geologic zone, which has proven to be prolific offshore West Africa and Brazil. Drilling should last around 180 days.

Stephen Hermeston, president and CEO of CGX, said: “The Jaguar-1 well will be the deepest well drilled to date in the Guyana Suriname basin.”

Earlier this year the PGS Ramform Challenger completed acquisition of 1,160 sq km (448 sq mi) of 3D marine seismic contract for CGX off Guyana, using PGS’ dual-sensor GeoStreamer technology.

Hermeston said the program was completed ahead of schedule and was under budget.

“The seismic data is expected to provide better imaging of the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and has provided us with the first 3D seismic coverage on our two early Cretaceous Albian prospects (Crabwood and Kabukalli) which are underlying the company's 100% owned Corentyne offshore Petroleum Prospecting License.

“Fasttrack processing and interpretation of the data will commence on the Albian prospects and will be followed by processing, interpretation and compilation of the Eagle deep Turonian and Campanian prospects.”

2/10/2012

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