CGX, Frontera submit application for Wei-1 discovery offshore Guyana

June 26, 2024

CGX and Frontera continue to pursue strategic options for opening the potential of the offshore Corentyne Block.

On the map, green represents oil discoveries, orange areas represent prospects and the yellow region is a CGX/Frontera block. Solid black dots are well locations, while half-filled dots are oil show wells.

CGX and Frontera are joint venture partners in the petroleum prospecting licenses for the Corentyne Block in offshore Guyana.

TORONTO/CALGARY, Canada — CGX Energy and Frontera Energy have submitted a Notice of Potential Commercial Interest for the Wei-1 discovery in the offshore Corentyne Block to Guyana’s government.

Last year the joint venture drilled the Wei-1 well, which is its second well on the block. The well fulfilled the Phase 2 Second Renewal Period obligations of the original 10-year license and also served as an appraisal well for the Kawa-1 appraisal program.

CGX and Frontera, with backing from investment bank and capital markets specialist Houlihan Lokey, continue to pursue strategic options for opening the potential of the block.