First wells in Canje Block to be drilled early in 2020 – UK company

ꟷ Bulletwood, Jabillo prospects already earmarked

The Canje Block is expected to have its first wells drilled early this year, according to investment company Westmount Energy. In fact, at least two wells, the Bulletwood and Jabillo, have been earmarked by the operators.

Westmount energy had partnered with JHI Associates Inc (JHI), which together with Mid-Atlantic Oil and Gas Inc (MOGI), have interests in the Canje Block. The two companies acquired the block in March 2015, after three years of negotiations.
According to a recent report from Westmount, it has been able to increase its equity position in JHI to three per cent of the share capital issued as of December 21, 2018. It noted that JHI’s main asset is its 17.5 per cent carried interest in the block.
“As a result of a farm-in by Total, announced in February 2018, JHI is carried for the drilling of up to four wells and is funded for the drilling of additional wells,” the company also said in its report.
“It is anticipated that the first wells in the Canje Block will be drilled in early 2020, with Total recently indicating that the Bulletwood and Jabillo prospects, located in the north-west portion of the block, as the most likely initial drilling targets.”
The Canje Block is just one of several exciting blocks at play offshore Guyana. There is the best known Stabroek Block. So far, Esso Exploration and Production Guyana Limited (EEPGL), Exxon’s local subsidiary, has made 16 oil finds in the Stabroek Block some 100 miles offshore Guyana, including four for this year.
Last year, the company made five discoveries. These discoveries have pushed the total estimated recoverable barrels of oil equivalent to over six billion. In addition, Exxon is moving ahead with its Liza phase two project, which will contain approximately 30 wells.
It made one discovery, the Uaru discovery which was announced in January 2020. Uaru is ExxonMobil’s 16th oil discovery in the Stabroek Block. The Uaru-1 well was drilled in a new reservoir, encountering approximately 94 feet (29 metres) of high-quality oil-bearing sandstone reservoir and was drilled in 6342 feet (1933 metres) of water.
Meanwhile, there is British-based Tullow which operates the Orinduik Block with a 60 per cent stake, while Total and Eco Atlantic each hold 15 per cent and Qatar Petroleum has the remaining 10 per cent. It also has a minority stake in the adjacent Repsol-operated Kanuku Block.