Seeking Alpha

Talisman, Ecopetrol say Colombian oil field is commercially viable

  • Ecopetrol (EC +0.2%) and Talisman Energy (TLM -0.6%) declare the commercial viability of the Akacias oil field they have been exploring together, which they say will add at least 35M barrels of reserves for both the companies and Colombia's dwindling supply.
  • EC expects production at Akacias to reach 25K bbl/day by late 2015 from the current 5.5K bbl/day, and says the field "clearly shows the heavy crude potential in the area of Llanos, which is the focus of the exploratory campaign to reach Ecopetrol's target of producing 1M of clean barrels in 2015 and 1.3M barrels in 2020."
  • Last week, EC announced the commercial viability of another oil area, Eastern Cano Sur, in the same region.
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Comments (1)
  • Ruben12345
    , contributor
    Comments (404) | Send Message
    Great, EC will do well in 2014
    10 Dec 2013, 11:30 AM Reply Like
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