TORONTO – Eco (Atlantic) Oil & Gas has agreed to acquire a 10% stake in Toronto-based deepwater exploration specialist JHI Associates.
Mid-Atlantic was originally awarded Canje in 2015. JHI also came onboard, with ExxonMobil farming in as operator in 2016.
Following five years of technical and seismic data studies, the partners identified multiple drilling prospects, leading to the award of a multi-well drilling permit from the Guyanese authorities.
This year they plan to test the extension of the hydrocarbon system in the adjacent Stabroek block which has resulted in more than 9 Bboe of discovered resources since 2015.
Two wells are planned this year, with the drillship Stena Carron currently drilling the Jabillo-1 well. Later this year the Stena DrillMAX is due to drill Sapote-1 in the eastern part of the block.
In addition, Eco (Atlantic) could participate in at least one well this year on the neighboring offshore Orinduik block, subject to partner approval.