ExxonMobil, with partners TotalEnergies, JHI and Mid Atlantic, have come up dry again on the Canje Block, downdip and apparently too far removed from the prolific Liza cluster of giant fields. Bulletwood, a similar prospect immediately to the south on this block, had oil shows in February 2021. Jabillo was targeting a 1 Bbo Campanian age prospect in 2,903m water, in the distal turbidite fan complex of the Guyana Basin, reaching a TD of 6,475m. Press reports suggest no commercial hydrocarbons were encountered, but there is also no mention of shows.
Location of the Jabillo-1 well, offshore Guyana.
JHI is carried through the drilling campaign, along with investors Westmount and Eco, but all parties will be disappointed with the current run of form over the Canje Block. Eco Atlantic recently bought into the campaign, taking 6.4% equity in JHI at $2 a share. The operating group are already planning their next target here, a large, independent stacked target, Sapote, which is due to spud in August 2021. Meanwhile success continues in the greater Liza area, with Whiptail-1 and 2 coming in for Exxon/Hess/CNOOC. The next major spud offshore Guyana will be the Kawa-1 well on the Corentyne Block (CGX and Frontera), very much on trend with Stabroek (Liza) and Block 58 (Maka Central).
