Georgetown: On Tuesday, UK-based Westmount Energy Limited announced that ExxonMobil commenced drilling operations at the Bulletwood-1 oil well, on the Canje Block, offshore Guyana in South America.
A consortium of ExxonMobil-Hess-CNOOC has already discovered about 9 billion barrels of oil on the adjacent Stabroek Block offshore Guyana between 2015 and 2020 with production, now at 120,000 bpd, commencing in December 2019.
Westmount Energy noted an announcement by the Maritime Administration Department of Guyana, dated January 1, 2021, that the Stena Carron drillship had arrived on location at the Bulletwood-1 wellsite on the Canje Block, offshore Guyana and commenced drilling operations.
“Based on the announcement by the Maritime Administration Department, drilling operations are scheduled to be completed at Bulletwood-1 on or before the February 23, 2021,” Westwood said in a statement.
The Canje Block lies 180-300 kilometres offshore Guyana in deep to ultra-deep water in an area covering 4,800 square kilometres in water depths of 1700-3000 metres. The partners on the Canje Block are ExxonMobil 35% (Operator); Total 35%; JHI Associates, Inc. 17.5%; and Mid-Atlantic Oil & Gas, Inc. 12.5%.
Gerard Walsh, Chairman of Westmount Energy Ltd. commented: “Bulletwood-1 is the first well in a multi-well, fully funded, drilling campaign being operated by ExxonMobil on the Canje Block over the next 6 months or so.”
Westwood Energy, holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc.
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.
Westwood reiterated that Bulletwood-1 is a 500 MMbbl oil prospect targeting a Liza lookalike, confined channel complex, of Late Cretaceous, Campanian age.
As a result of 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
According to Westwood Energy: “This campaign will evaluate high impact Upper Cretaceous prospects in the proven Liza play fairway with, in some cases, additional deeper reservoir targets.”
“The campaign also provides Westmount shareholders exposure to a portfolio of drilling outcomes over a compressed time-frame and success from some of the wells in this portfolio could result in transformational value changes for Westmount,” the company added.
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