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  • Ecopetrol (EC) Reports Successful Exploratory Well in Colombia 0 comments
    Sep 13, 2010 2:14 PM | about stocks: EC

    Ecopetrol reported a successful exploration well at its property in Colombia, where the company has been prospecting for natural gas.

    Ecopetrol said that the Oripaya 1 exploratory well was targeting the Aguardiente formation and was drilled to a depth of approximately 13,300 feet. The company said that the well confirmed the presence of hydrocarbons where the Aguardiente formation is 680 feet thick.

    Ecopetrol conducted numerous drill stem tests on the well, and reported average production from the Oripaya 1 exploratory well of 6.6 million cubic feet per day of natural gas and 196 barrels per day of water. The company used a choke size of .3125 inches, and wellhead pressure in excess of three thousand pounds per square inch.

    Ecopetrol said that the well had a porosity between five and nine percent. The company intends to continue to conduct additional tests to delineate the extent of the hydrocarbon discovery.

    The Oripaya 1 exploratory well was permitted under the Uribante Exploration and Production Agreement, which was signed between Ecopetrol and the National Hydrocarbon Agency. Ecopetrol reported two recent successful wells at other exploration properties. These include the Rio Zulia West-3 and the Quifa-6 exploratory wells.

    Ecopetrol is an integrated oil company headquartered in Colombia. The company has producing oil and gas properties in Colombia, Brazil, Peru and the United States, and owns two oil refineries in Colombia.

    For more information on the company, go to ecopetrol.com.co/english

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Disclosure: no positions

    Stocks: EC
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