Guyana clears revised work program for CGX’s Corentyne block

The Government of Guyana has approved resequencing of CGX Energy’s work program in the offshore Corentyne block.

The block is operated by CGX’s wholly-owned subsidiary CGX Resources. Frontera Energy also holds a stake in the block through a farm-in completed in early May.

CGX said last Friday that it had intended to drill one exploration well on the Corentyne block and then follow that up with seismic processing. The company intended to use $11.2 million from a rights offering to drill the Utakwaaka well on the Corentyne block by November 27, 2019.

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