Exxon Spuds New Well in Guyana's Canje Block
Oil supermajor ExxonMobil has started drilling the Sapote-1 well located on the Canje Block offshore Guyana, its third well in the block this year.
With the Sapote-1 well, ExxonMobil is hoping that the third time is the charm as this year’s two previous attempts at striking oil on the Canje Block – Bulletwood-1 and Jabillo-1 – found nothing but dust.
Eco Atlantic, a company holding an indirect interest in the Canje Block via an acquisition of up to 10 percent interest in JHI Associates, announced the spud in a statement earlier this week.
The Sapote-1 well is designed to test Upper Cretaceous reservoirs in a stratigraphic trap. Drilling of the well is expected to take up to 60 days. The well is approximately 140 miles northeast of Georgetown in around 8,400 feet of water and is being drilled with the Stena DrillMax drillship. This is a change for ExxonMobil, as the two dry wells drilled on the block this year were completed by Stena Drilling’s Stena Carron drillship.
The Sapote-1 prospect is located in the southeastern section of Canje, approximately 31 miles north of the Haimara discovery in the Stabroek Block which encountered around 207 feet of high-quality, gas-condensate bearing sandstone reservoir and some 37 miles northwest of the Maka Central discovery in Block 58 which encountered some 164 feet of high-quality, oil-bearing sandstone reservoir.
The Canje Block is operated by ExxonMobil which holds its 35 percent interest through its subsidiary Esso Exploration & Production Guyana Limited. The partners in the block are TotalEnergies with 35 percent, JHI Associates with 17.5, and Mid-Atlantic Oil & Gas Inc. with 12.5 percent.
Since Eco Atlantic holds its indirect interest via JHI, it is worth noting that JHI is fully funded for the ongoing program on the Canje Block, including for the Sapote-1 well and any additional potential wells considered for this year.
“With other drilling targets in the region having yielded significant discoveries, now totaling billions of barrels of oil and oil equivalent, we are excited about the potential of the Sapote-1 well and look forward to receiving the well results in due course,” Gil Holzman, President and CEO of Eco Atlantic said.
“We also are keen to deliver additional drilling success with our next exploration campaign on our neighboring Orinduik block in the Basin and the follow-through potential of ExxonMobil's recently announced multiple-well pre-permitting on the Canje Block next year,” he added.
“We are entering a very busy period of drilling and updating drilling plans and we look forward to updating the market in the coming months on our progress of the Orinduik Block and on the Sapote-1 results,” Holzman concluded.
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