According to industry sources in Q1 2020, CHx Belize LP (CHx) was awarded a 3,131 sq km block, in the North Peten Basin, west Belize on the border with Guatemala. The Production Sharing Agreement (PSA) is due to expire in October 2027, with a relinquishment opportunity in October 2021. As of February 2020, work was under way reprocessing and interpreting existing seismic data, reviewing and evaluating existing well data and other geological and geophysical data. The acreage surrounds the Belize Natural Energy-operated Spanish Lookout and Never Delay fields, and borders the recently awarded Princess Petroleum Block and FCRL Block (see related articles). The Spanish Lookout and Never Delay fields were discovered in 2005 and 2008 respectively. At it's peak in 2009, Spanish Lookout produced 5,000 bo/d, down to 1,000 bo/d in 2019.
Hx Belize LP (CHx) was awarded a 3,131 sq km block, west Belize on the border with Guatemala.