A major find offshore Guyana could transform the company’s fortunes
Frontera anticipates Guyana jackpot
The Latin America-focused producer aims to emulate the drilling successes of neighbouring blocks to diversify its portfolio
Canadian operator Frontera Energy is pinning its hopes on exploration success offshore Guyana after a year of heavy losses, mostly from Colombia. The firm posted $39.8mn in net losses over the first six months of 2021, albeit still marking a rebound from a loss of $455.6mn over the same period last year. The Calgary-based E&P today commences drilling the Kawa-1 prospect in the Corentyne block offshore Guyana through its majority owned subsidiary and joint venture partner CGX Energy. Commercial oil and gas have yet to be discovered in the block, but the target is close to several major discoveries in the Stabroek block and block 58 in Suriname. Production from Guyana has slowly ramped up
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
