Operations


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PTA Operations

Current Operations

El Edén block - June 4, 2013 - Petroamerica is pleased to announce the start of appraisal drilling at its La Casona discovery on the El Eden Block in the Llanos Basin of Colombia. The La Casona-2 appraisal well was spud on May 30, 2013 and is targeting the Gacheta and Une Formations that tested light oil and gas in the La Casona-1 discovery well, and will evaluate the Mirador Formation which was not flow tested at La Casona-1. The well is expected to be drilled to a target depth of approximately 16,000 feet and is expected to take approximately 60 days to drill and complete. Upon completion of drilling operations at the La Casona-2 well, the drilling rig is expected to mobilise and drill the Rumi-1 exploration well on the same block.

El Portón Block - May 23, 2013 - Petroamerica is pleased to announce an oil discovery with its Curiara-1 well, which tested light 40 degree API oil at an average rate of more than 800 barrels of oil per day (“bopd”) from the Mirador Formation. The Curiara-1 exploration well produced on test under natural flow conditions light oil (40 degree API) and gas from a 5-foot perforated interval in the Mirador Formation. The average oil rate through a 20/64 inch restricted choke over a 22-hour period was 818 bopd with 3.4 MMCFD of gas. The well head flowing pressure during testing was approximately 3,300 psi and the watercut at the end of the test was less than 0.5%. During testing, a maximum oil rate of more than 1,200 bopd was observed and by the end of the test, the stabilized oil rate was 964 bopd. Logs indicate 8 feet of net pay and a possible gross hydrocarbon column of 50 feet in the Mirador Formation at the well. The well is currently shut-in for a pressure build-up and further evaluation. For operational reasons, the well was terminated in the Los Cuervos Formation and did not evaluate the deeper reservoir objectives of the Gacheta and Une Formations.

 

Los Ocarros Block - May 3, 2013 - The Las Maracas-9 well was drilled as an S-style well targeting the attic oil in the Gacheta reservoir up-dip from the Las Maracas-3 well. In order to target the Gacheta in an attic position the well trajectory was intentionally designed not to intersect the Mirador reservoir in the field.  The well encountered the top of the main Gacheta reservoir 16 feet higher (true vertical depth) than at the Las Maracas-3 well and a petrophysical interpretation of the wireline logs indicates 42 feet of net oil pay (true vertical depth) in the main Gacheta reservoir. The Las Maracas-9 well has been completed to produce from the Gacheta.

 

Los Ocarros Block - April 22, 2013 - The Las Maracas-8 well was tested over a 23-hour period from a 12-foot perforated interval in the Mirador reservoir at variable choke sizes. The well was started with an electro-submersible pump (“ESP”) and, after removing the completion fluid, produced at rates of more than 3,250 barrels of oil per day (“bopd”) of light 36 degree API oil through a 21/64-inch choke size for approximately 2 hours.  When flowing naturally, during the first part of the test for a four-hour period, the average flow rate was more than 1,800 bopd on a 16/64-inch choke. The high initial test rates are reflective of the high deliverability of this Mirador reservoir. The well is now on production at approximately 1,100 bopd under natural flow. This well will initially be a Mirador producer, and it is expected that the Gacheta oil pay will be produced later on.

 

El Edén Block - April 9, 2012 - The Une Formation in La Casona-1 flow tested at an average rate of 1,700 bopd and 6 MMCFD of gas over a 56-hour period. The well produced under natural flow conditions and the quality of the crude oil produced was 35 degree API. A number of basal Gacheta sands, not previously described in net pay numbers that were announced in the November 13, 2012 press release, were also tested and produced 105 bopd of light 24 degree API oil and 0.5 MMCFD of gas. A middle Gacheta sand was also tested separately yielding no flow to surface. It is speculated that this last test was dry due to either formation damage, or the well required more clean-up time to flow naturally.

The Mirador Formation, which had good oil shows and potential hydrocarbon pay from logs, could not be tested in this well due to a poor cement bond. It is expected that the Mirador, Gacheta and Une reservoirs will be further evaluated with a follow-up well, La Casona-2, to be drilled later this year.

The operator of the block is currently procuring production facilities that include natural gas compression equipment and plans to use the produced gas as a power source at the Las Maracas and Kona production facilities. Production from the La Casona discovery is expected to commence sometime during the third quarter of 2013.