Westmount Energy release
Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), is pleased to note the announcement by Ratio Petroleum Energy Limited Partnership (“Ratio Petroleum”) yesterday, that Hess Corporation (“Hess”) has increased its working interest (“WI”) in the Kaieteur Block, offshore Guyana, from 15% to 20%.
Source: Reuters
This increase in Hess Corporation’s Kaieteur Block WI has occurred on the back of the Tanager-1 oil discovery, announced in November 2020, and via the farm-down of a 5% WI by Cataleya Energy Limited (“CEL”) to Hess.
Tanager-1, the first well drilled on the Kaieteur block, encountered 16 metres of net oil pay (20
oAPI oil) in high-quality sandstone reservoirs of Maastrichtian age and confirmed the extension of the Cretaceous petroleum system and the Liza play fairway outboard from the prolific discoveries on the neighbouring ExxonMobil operated Stabroek Block. The well was reported as an oil discovery which is currently co
Guyana: Hess increases its working interest in the Kaieteur Block, offshore Guyana
24 May 2021
Hess has increased its working interest ( WI ) in the
Kaieteur Block, offshore Guyana, from 15% to 20%. This increase in Hess Corporation s Kaieteur Block WI has occurred on the back of the
Tanager-1 oil discovery, announced in November 2020, and via the farm-down of a 5% WI by
Cataleya Energy Limited ( CEL ) to Hess.
Tanager-1, the first well drilled on the Kaieteur block, encountered 16 metres of net oil pay (20 API oil) in high-quality sandstone reservoirs of Maastrichtian age and confirmed the extension of the Cretaceous petroleum system and the Liza play fairway outboard from the prolific discoveries on the neighbouring ExxonMobil operated Stabroek Block. The well was reported as an oil discovery which is currently considered to be non-commercial as a standalone development. High quality reservoirs were also encountered in Tanager-1 at the deeper Santonian and Turonian in
Kaieteur Block - Cataleya Energy Ltd 5% Farm-down to Hess Corporation bnamericas.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnamericas.com Daily Mail and Mail on Sunday newspapers.