Petroamerica Succesfully Drills Las Maracas in Colombia

Petroamerica Oil Corp. a junior oil and gas company operating in Colombia is pleased to announce the drilling results for its Las Maracas-9 well on the Las Maracas Field, Los Ocarros Block, Colombia .

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 and the Tuscany 119 rig is expected to mobilise to drill the La Casona-2 appraisal well, followed by the Rumi-1 exploration well, on the El Eden Block .

The Las Maracas Field is currently producing approximately 9,000 bopd with a total field watercut of 5.5%. The permanent production facility is scheduled to be online by the end of May 2013.

Petroamerica holds a 50 percent participating interest in the Los Ocarros Block where the Las Maracas field is situated, and a 40 percent participating interest on the El Eden Block .

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Gran Tierra Touts Record Production in Colombia

Gran Tierra Energy Inc., a company focused on oil exploration and production in South America, Wednesday provided updates for its production and exploration drilling in Colombia, Peru and Brazil.

"Gran Tierra Energy is pleased to start the year with record levels of production as we continue to successfully mitigate transportation disruptions in Colombia," commented Dana Coffield, president and Chief Executive Officer of Gran Tierra Energy. "Operationally, we believe the northern boundary of the Moqueta field has now been successfully delineated with the Moqueta-9 appraisal well. The balance of this year will focus on increasing water injection for pressure support and increasing production capacity from the field.  Once permits are in place, we can then direct our attention to appraising the eastern flank of the Moqueta structure, which remains undrilled. In Peru, the evaluation of our Bretaña Norte oil discovery continues, with initial testing of our well extension expected in the coming month, preliminary field development planning initiated, and long term testing expected to begin within a year. Our exploration program in the onshore Recôncavo Basin in Brazil, testing a new play with horizontal drilling and multi-stage fracture stimulation, is ongoing with results expected mid-year," concluded Coffield.

Average daily consolidated light and medium crude oil and natural gas production net after royalty (NAR) before inventory adjustments for the three months ended March 31, increased 21 percent to approximately 21,860 barrels of oil equivalent per day (boepd) NAR compared with 18,148 boepd NAR for the corresponding period in 2012. Approximately 97 percent was oil and natural gas liquids. First quarter production reflects increased production in all countries in which we are producing with the largest contribution to the increase from the Costayaco, Moqueta, and Surubi oil discoveries. This increase was partially offset by approximately 44 days of oil delivery restrictions due to disruptions in the Ecopetrol-operated Trans-Andean oil pipeline (the "OTA pipeline") in Colombia . Gran Tierra Energy continued production while the OTA pipeline was down, selling oil through an alternative pipeline and trucking and storing excess oil.

Average daily Colombian production of light and medium crude oil and natural gas for the three months ended March 31, 2013 increased 18 percent to approximately 17,850 boepd NAR before inventory adjustments, compared with 15,163 boepd NAR before inventory adjustments for the comparable period in 2012. The production is primarily from the Costayaco and Moqueta fields in the Chaza Block in which Gran Tierra Energy has a 100 percent working interest.

Additionally, preliminary indications show approximately 139,800 barrels NAR net liquidation of inventory during the quarter.  Inventory volumes will be finalized near the end of April 2013 and, as such, this figure is subject to change.

In Colombia, the Moqueta-9D appraisal well was spud on Jan. 20 to test the northwest extent of the Moqueta field. It discovered hydrocarbons in a different fault block, separate from the main Moqueta oil accumulation. The T-Sandstone tested gas and the combined Caballos and U-Sandstone formations tested oil and water. Further isolation testing on the Caballos and U-Sandstone formations will be conducted to define their hydrocarbon potential. These results, integrated with seismic and other wells drilled to date, indicate the well has defined the northern margin of the main Moqueta oil accumulation. The down-dip extent of the oil column to the west, south and east, and the lateral extent of the structure to the east, have not yet been defined by drilling, with this additional resource potential to be defined with our ongoing drilling campaign.

The Moqueta-10 well has begun drilling. This well will be used as a water injection well to assist with pressure support in the Moqueta field to support production growth from existing and future planned production wells. This well is being drilled to the far western flank of the field, and may provide additional information on the down-dip extent of the oil column in the primary reservoirs in the main block, which has not yet been determined. This well will be followed by Moqueta-11, which is planned to be a production well.

Gran Tierra Energy has initiated drilling of the horizontal side-track extension of the Bretaña Norte 95-2-1XD oil discovery well. Casing has been set at the top of the Vivian reservoir, where very high quality sands with very good oil shows were encountered, and the drilling of a 500 meter horizontal leg has been initiated. Upon completion, a short test will be conducted. Plans are ongoing to initiate long-term testing from this horizontal well, with production to be initiated within a year. In addition, a Preliminary Front End Engineering Design has been initiated for the Bretaña Norte field development to support reserves booking, with results expected before year-end.

Gran Tierra Energy's horizontal multi-stage fracture stimulation exploration drilling program in the Recôncavo Basin onshore Brazil is ongoing, with results of the program expected mid-year.

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Petroamerica Updates Testing Results from Colombia Well

Petroamerica Oil Corp. presented preliminary drilling results for its Las Maracas-8 well on the Los Ocarros Block, and provide the results of selective testing for the La Casona-1 well on the El Eden Block, Colombia.

The Las Maracas-8 well was targeting the northern extension of the Las Maracas field and reached its total depth in a record drilling time of 10 days. A petrophysical evaluation of wireline logs from the well indicates more than 56 feet (true vertical depth (TVD)) of net pay, comprising 34 feet (TVD) in the Mirador Formation and 22 feet (TVD) in the middle Gacheta reservoir. The well is currently being cased, and it is expected that the well will be completed as a Mirador producer initially. Following completion, the rig is expected to drill Las Maracas-9 that will target the Gacheta and Une reservoirs.

The Las Maracas Field is currently producing between 8,000 to 9,000 barrels of oil per day (bopd) in total and the permanent production facility is still on schedule for completion by the end of May 2013.

The Company also carried out an extensive testing program of the Une and Gacheta reservoirs in its La Casona-1 well using a workover rig.

The Une Formation in La Casona-1 flow tested at an average rate of 1,700 bopd and 6 million cubic feed per day (MMcf/d) 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. The measured watercut at the end of the test was 1 percent.

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 MMcf/d of gas. The watercut at the end of the test was 2 percent. 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.

Petroamerica holds a 50 percent participating interest in the Los Ocarros Block where the Las Maracas field is situated, and a 40 percent participating interest in the El Eden Block, 15 percent of which is still pending approval by the Colombian National Hydrocarbon Agency (ANH), where the La Casona discovery is located.

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GeoPark Starts Up Production at Colombia Wells

GeoPark Holdings Limited announced the successful drilling, testing and putting into production of two new oil wells in Colombia: Max 2 in the Max oil field in the Llanos 34 Block and La Cuerva CH NE 1 in the La Cuerva oil field in the La Cuerva Block. GeoPark operates both blocks - with a 45-percent working interest in Llanos 34 Block and a 100-percent working interest in La Cuerva Block.

GeoPark drilled and completed the Max 2 well to a total depth of 10,866 feet (3,312 meters). A test conducted with an electrical submersible pump (ESP) in the Guadalupe formation, at approximately 10,171 feet (3,100 meters), resulted in a production rate of approximately 1,532 barrels of oil per day (bopd) of 13.7 API oil, with less than a 1 percent water cut, through a choke of 19 millimeters (mm) and well head pressure of 70 pounds per square inch (psi). Further production history will be required to determine stabilized flow rates and the extent of the reservoir. Surface facilities are already in place and the produced crude oil is now being marketed and sold. The Max oil field was discovered in March 2012 with the Max 1 well, which is currently producing at a rate of approximately 1,031 bopd.

GeoPark drilled and completed La Cuerva CH NE 1 well to a total depth of 4,196 feet (1,279 meters). A test conducted with an ESP in the Carbonara C5 formation, at approximately 3,855 feet (1,175 meters), resulted in a production rate of approximately 440 bopd of 20.8 API oil, with a 14% water cut, through a choke of 8.7 mm and well head pressure of 100 psi. Further production history will be required to determine stabilized flow rates and the extent of the reservoir. Surface facilities are already in place and the produced crude oil is now being marketed and sold.

GeoPark has interests in ten exploration, development and production blocks in Colombia - in addition to interests in six blocks in Chile and three blocks in Argentina. During 2013, GeoPark will carry out a 35-45 well drilling program in Colombia and Chile - with a total expected work program investment of $200-230 million.

James F. Park, CEO of GeoPark, said: "Since acquiring our Colombian projects just one year ago, we have hit the ground running and been able to record continuous growth in our crude oil production -- both from exploration and development drilling. We are also pleased that our Colombian drilling activities are matching our recent drilling successes in Chile and leading to overall increases in production and cash flow. We look forward to further positive results from our $200+ million investment program through 2013."

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Wood Group Wins First Offshore Colombia Contract

Wood Group PSN announced it is delivering operations and maintenance services to Chevron's offshore production facilities under a new $17.5 million contract.

Wood Group PSN will provide services to Chevron's two offshore platforms (Chuchupa A and B), in the Chuchupa natural gas fields, Caribbean Sea, and two onshore natural gas fields (Riohacha and Ballenas) in the province of La Guajira, northern Colombia.

The award marks WGPSN's first offshore services contract in Colombia and will involve over 100 new jobs. The contract term is three years with an additional three year option to extend.

"Chevron is a valued customer and this award marks the expansion of our offshore business in Colombia. We are currently recruiting to bring new employees into our business to service this contract and are committed to developing a skilled and talented local workforce," Derek Blackwood, WGPSN Americas president, said.

The contract was won through a competitive tender process.

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Interoil Mulls Share Placing to Fund Colombia Field Development

South America-focused Interoil Exploration & Production announced Wednesday that it is looking at raising around $35 million via a share placing in order to provide it with funds to restart production drilling at its onshore Colombia asset.

Oslo-based Interoil has onshore operations in Colombia and Peru (along with a stake in the Ebony discovery offshore Ghana, West Africa). In Colombia it produced an average of 1,026 barrels of oil per day (net to the company) during December, while production in Peru amounted to 2764 bopd.

Last month, Interoil noted that despite a decline in production from its Colombian asset, on the Puli C block, it "strongly believes" in its intrinsic value and that it would have to raise equity in order to fund a drilling campaign to grow production and reserves at the asset.

Earlier in February, Interoil announced that it had agreed to sell its Altair and COR-6 exploration licenses in Colombia to Trayectoria Oil & Gas for $2 million. The deal also meant the Interoil would be relieved of the costs of exploration commitments that amounted to $26 million.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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