CGX Energy spuds Guyana well

CGX Energy has begun drilling an offshore exploration well on the Corentyne block in Guyana, the Canadian exploration company said on Monday.

Drilling of the Kawa-1 well began on Sunday using Maersk Drilling’s semi-submersible Maersk Discoverer rig.

CGX Energy is partnered with Frontera Energy Corporation on the project. The latter company is the majority stakeholder of CGX Energy.

The well sits in the northeast quadrant of the block in water depths of around 355 metres. The company intends to drill to depths of 6,690 metres.

“Today is an important day for CGX and Frontera as we continue to make substantial progress in realizing the value of our investments in Guyana. The joint venture has spud the Kawa-1 well, which we believe is one of the most exciting exploration wells in the world,” said Gabriel de Alba, co-chair of CGX’s board of directors and chairman of Frontera Energy Corporation’s board of directors.