Search results for: CGX Energy

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  • 1 March 2013
    Business & Finance

      Pacific Rubiales Energy Corp,a Canadian company and producer of natural gas and crude oil, announced that it has entered into a binding term sheet with CGX Energy Inc., pursuant to which Pacific Rubiales has agreed to invest Cdn$35,000,000 in CGX at a price of Cdn$0.14 per unit for an aggregate of 250 million units. Ronald Pantin, […]

  • 5 August 2019
    Project & Tenders

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

  • 2 October 2012
    Business & Finance

    CGX Energy Inc. has entered into an agreement that may lead to the farm-out of 5% of its 25% participating interest in the Georgetown Block to Repsol Exploración S.A. The agreement is subject to Government of Guyana approval. If approved, the revised interest, effective September 1, 2012, in the Georgetown Petroleum Prospecting License would be […]

  • 19 October 2016
    Exploration & Production, Project & Tenders

    Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, CGX Energy, has canceled a partnership deal for the company’s proposed wharf and logistics yard in Berbice, Guyana. CGX had entered into a term sheet agreement with an undisclosed potential partner regarding its Berbice Port Project back in April. The […]

  • 24 September 2019
    Business & Finance, Exploration & Production, Project & Tenders

    CGX Energy has hired PGS to conduct a 3D seismic survey over its Corentyne Block offshore Guyana. CGX has also deferred all operational obligations under its drilling rig contract for the Ralph Coffman jack-up due to the re-sequencing of commitments in the Corentyne Block. 

  • 19 August 2014

    CGX Energy, a Canadian company with exploration assets offshore Guyana, has announced that it has entered into a definitive agreement for the provision of helicopter services for use in the drilling of its first commitment well on its Corentyne Block scheduled to be spudded before October 31, 2015. Under the terms of the agreement, CGX has […]

  • 8 May 2012
    Business & Finance

    CGX Energy Inc. announces the results of the drilling of the Eagle-1 well on the Company’s 100% owned and operated Corentyne Petroleum Prospecting License (“PPL”), offshore Guyana. The Eagle-1 well reached total depth of 4,328 metres on April 25th in the upper Cretaceous Maastrictian geologic zone on an 8 ½ ” diameter hole and with […]

  • 31 May 2012
    Business & Finance

    Canada’s Pacific Rubiales Energy Corp has agreed to purchase 85,714,285 units of CGX Energy Inc. (“CGX”) at a price of C$0.35 per unit for an aggregate investment of C$30 million. At the same time, the Company has entered into a technical services agreement with CGX whereby Pacific Rubiales will provide technical assistance to CGX in […]

  • 29 November 2012

    CGX Energy Inc. has transitioned to a new Corentyne petroleum agreement (“Corentyne PA”) and petroleum prospecting license (“Corentyne PPL”) offshore Guyana effective as of November 27, 2012, renewable after four years for up to ten years. The new Corentyne PA applies to the former offshore portion of the Corentyne PPL, covering 6,212 square kilometres. The […]

  • 21 October 2011
    Business & Finance

    CGX Energy Inc. announced that it has closed its previously announced offering of common shares at $0.70 per share (the “Offering”). Pursuant to the Offering, CGX has issued 131,445,000 common shares (the “Common Shares”) of the Company for gross proceeds of $92,011,500 which included the full exercise of the over-allotment option. The Offering was led […]

  • 15 January 2016
    Project & Tenders

    Spanish oil company Repsol has sought more time from Guyana to continue exploratory work in the Kanuku offshore block. The company’s delegation met with President David Granger on Wednesday to seek the extension. After the meeting, Repsol’s Latin America Exploration Director, Mikel Erquiaga explained that the company has to drill a well, but had been delayed by several stumbling […]

  • 21 August 2012
    Business & Finance

    CGX Energy Inc. last week announced, along with its partners on the Jaguar-1 well located on the Company’s 25% owned Georgetown Petroleum Prospecting License (“PPL”), that drilling operations at the Jaguar-1 well on the Georgetown PPL, Guyana ended and the well would be plugged at a depth of 4,876 metres without reaching the primary objective […]

  • 11 April 2019

    The World Bank has approved a $20 million credit from the International Development Association (IDA) to strengthen institutions, laws, and regulations to promote good governance and a prudent management of Guyana’s oil and gas sector.

  • 15 February 2013

    CGX Energy Inc. has announced that the Government of Guyana has issued two new petroleum prospecting licenses, one to CGX Resources Inc., a wholly owned subsidiary of CGX and one to ON Energy Inc. (“ON Energy”), a 62% owned subsidiary of CGX, both effective as of February 12, 2013 and renewable after four years for […]

  • 24 January 2012
    Business & Finance

    CGX Energy Inc. announced that the 1,160 square kilometre 3D marine seismic survey program offshore Guyana has been completed. The seismic acquisition was performed by the PGS Ramform Challenger, a state-of-the-art seismic ship owned by a subsidiary of Petroleum Geo-Services (PGS). PGS used their dual-sensor GeoStreamer® technology, which was instrumental in delivering high quality data. […]

  • 3 May 2019

    Guyana has approved the previously proposed farmed out of a share in CGX’s two offshore blocks in Guyana to Frontera Energy Corporation.

  • 10 February 2012
    Business & Finance

    Spain-based Repsol has commenced drilling operations at the Jaguar-1 well, located on the Georgetown Petroleum Prospecting License, offshore Guyana. The Jaguar-1 well will be drilled to a depth of 6,500 metres to test the Turonian geologic zone. The well is being drilled by the Atwood Beacon jack-up drilling rig operated by Atwood Oceanics, Inc., a […]

  • 26 November 2019
    Business & Finance, Exploration & Production

    Valaris has been awarded new contracts and extensions for its drilling rigs with an associated revenue backlog of $285 million. One of the jack-up rigs has secured a 21-well contract with ExxonMobil in the U.S. Gulf of Mexico. 

  • 24 December 2018
    Business & Finance, Exploration & Production

    Offshore driller Rowan Companies has been awarded contracts for two of its jack-up drilling rigs.

  • 9 August 2012

    Pacific Rubiales Energy released its unaudited consolidated financial results for the quarter ended June 30, 2012. Second Quarter 2012 Highlights EBITDA increased to a record $560 million ($1,098 million for the first six months, an increase of 19% compared to the same period in 2011), driven by production growth and higher netbacks. Net Earnings of […]

  • 14 May 2019
    Exploration & Production

    GulfSlope Energy has decided to abandon its well at the Tau Prospect, located in the U.S. Gulf of Mexico.

  • 16 April 2013

    Fortune Oil announced the following development regarding its shareholding in China Gas Holdings Ltd (CGH) which is held through China Gas Group Limited (CGG), a joint venture company between the Company and Mr Liu Minghui. As detailed in the Company’s announcement on 17 February 2012, CGG entered into an arrangement with a private company (Fortune Max) […]