Demerara Waves Online News- Guyana Riding on the Crest of Truth
Last Updated on Thursday, 4 March 2021, 7:46 by Denis Chabrol
The Bulletwoood-1 well, the first on the Canje Block, has come up dry, one of the minor stakeholders has announced.
Westmount Energy Limited reports that its investee company, JHIA Associates, confirms that oil was not found in commercial quantities. “The well encountered quality reservoirs but non-commercial hydrocarbons,” Investegate reported.
ExxonMobil started exploratory drilling in January
Bulletwood-1 was the first of three wells scheduled to be drilled on the block in 2021 with drilling of the independent prospects Jabillo-1 and Sapote-1 to follow over the coming months.
Westmount Energy Limited, an oil and gas investing company focussed on the Guyana-Suriname Basin reports that, further to its announcement on 2 March 2021, said the Bulletwood-1, was safely drilled in 2,846 meters of water by the Stena Carron drillship to its planned target depth of 6,690 meters.
Data collection at Bulletwood-1 confirms the presence of the Guyana-Suriname Basin petroleum system and the potential prospectivity of the Canje Block.
Westmount holds an indirect interest in the Canje Block as a result of a 7.7% interest in the issued share capital of JHI.
Following a 2018 farm-out to Total, JHI is carried for the drilling of up to four wells, including Bulletwood-1, and is funded for the drilling of additional wells.
The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.