Canacol tests Lower Magdalena Valley gas discovery

Posted on Aug 28 2014 - 12:40pm by Rico

COLOMBIA NEWS – Canada’s Canacol Energy Ltd., Calgary, has tested 15.5 MMscfd of dry gas in the first of its three-well exploration program targeting the Cienaga de Oro reservoir in Colombia’s Lower Magdalena Valley.

drilling

The Palmer-1 well encountered 87 ft of gas pay within the primary target of the sandstone reservoir—perforated to 6,906 ft from 6,811 ft measured depth—flowing naturally with no water on a 36/64-in. choke during the course of a 36-hr isochronal flow test.

The isochronal flow test will continue over the next week to determine the ultimate deliverability of the reservoir zone.

Canacol plans to subsequently tie the well 5 km east to the company’s operated gas processing and transportation facility at Jobo. The company has identified up to two follow-up locations to appraise and develop the discovery in early 2015 once it has concluded its exploration drilling program at Esperanza (OGJ Online, Jan. 31, 2011).

Following completion of testing operations at Palmer-1, Canacol plans to spud the second of three exploration wells in early October, and commence drilling of the final exploration well in December. Drilling is subject to approval by Colombia’s Agencia Nacional de Hidrocarburos.

Canacol says the promising results at Palmer-1 have validated the company’s gas exploration model using advanced 3D seismic interpretation algorithms, significantly increasing the probability of encountering gas at both the Corozo and Canandonga prospects.

Canacol operates the Esperanza exploration and production contract with 100% interest through its operating subsidiary Geoproduction Oil & Gas Co.

Source:  Oil & Gas Journal