The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI Associates (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
Previously published information by JHI indicates that Bulletwood-1 is a 500 million bbl oil prospect targeting a Liza look-alike, confined channel complex, of Late Cretaceous, Campanian, age. Based upon the announcement by the Maritime Administration Department drilling operations are scheduled to be completed at Bulletwood-1 on or before 23 February 2021.
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.
Gerard Walsh, Chairman of Westmount Energy Ltd, which has a circa 7.2% interest in the issued share capital of JHI Associates, 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. This campaign will evaluate high impact Upper Cretaceous prospects in the proven Liza play fairway with, in some cases, additional deeper reservoir targets. It also provides Westmount shareholders exposure to a portfolio of drilling outcomes over a compressed timeframe. Success from some of the wells in this portfolio could result in transformational value changes for Westmount."
Read the article online at: https://www.oilfieldtechnology.com/exploration/06012021/drilling-begins-at-canje-block-offshore-guyana/