Challenger Energy identifies ‘1-2 billion barrel’ prospects in Uruguay

Challenger Energy said Wednesday that it had identified three sizeable prospects in its AREA Off-1 offshore block in Uruguay of between 1 to 2 billion barrels and that the company said it would launch a farm-out process “following unsolicited interest from a number of industry counterparties.”

The company said that an initial prospect inventory of 1 to 2 billion barrels had been defined from its 2D seismic reprocessing work.

According to Challenger Energy, three sizeable prospects – Teru Teru, Anapero, and Lenteja – have thus far been identified, derived from a range of play types consistent with those de-risked by recent successful conjugate margin drilling in Namibia by TotalEnergies and Shell, on the other side of the Atlantic Ocean.

Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.

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