PetroLatina Energy reports ninth successive discovery in Colombia with Zoe-1 wel
08 February 2010
PetroLatina Energy, the exploration and production group working in Latin America, has reported a new exploration discovery at the Zoe-1 well in Colombia – the company’s ninth successive successful well in the current drilling campaign.
Testing is now underway on the new well, which lies on the Midas Block approximately 12km to the east of the PetroLatina-operated Santa Lucia field. It was drilled to a total depth of 10,924 ft.
Last year, PetroLatina said Zoe-1 was one of its key exploration wells of 2009 and could have a “significant impact” on the company if it proved to be a discovery.
The well’s location was based on the interpretation of the Midas Sur 3D seismic programme acquired by PetroLatina in 2008 and its primary target was the Paleocene Lisama formation. The Lisama formation produces oil at the company's Los Angeles field located 30km to the north of the Zoe prospect.
In addition, the Zoe-1 well was targeting a shallower secondary reservoir known as the La Paz formation which currently produces oil at the Santa Lucia field. A third reservoir target, the Umir formation, which produces oil at PetroLatina's 2009 Colon discovery, was also mapped at the Zoe-1 location.
Log analysis run by PetroLatina indicates that the Lisama section is oil bearing with approximately 47ft of net oil pay. The section from 8,701ft to 8,730ft also contains reservoir quality rock and had good oil shows, although it is not yet clear whether this zone is oil bearing. The well also appeared to contain producible oil in the third target Upper Cretaceous Umir section where two thin sands were encountered.
Testing of the Umir formation is expected to continue until around the end of February when a service rig will be mobilised to the well to undertake the testing of the primary target Lisama formation and, if successful, tie it back to production.
The Latco-1 rig, which drilled the Zoe-1 well, has now been mobilised to the Santa Lucia field where it is currently drilling the Santa Lucia-4 development well.
PetroLatina is the operator of the Santa Lucia field and holds a 20% interest in the field alongside Petrosantander Inc with 20% and Ecopetrol S.A. with 60%.
Separately today, PetroLatina Energy reported a reserves update following an assessment carried out by consultants from Ryder Scott. The analysis values the company’s proved, probable and possible reserves in Colombia at $247 million but does not include the latest success at the Zoe-1 well.
The figures saw PetroLatina’s total proved reserves grow by 29.1% to 3.55 million barrels of oil equivalent (boe). Its 2P probable reserves were up by 20.2% to 6.09 million boe and 3P possible reserves grew by 55.5% to 11.40 million boe.
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