The well began drilling operations in February 2010 and was drilled to a total measured depth of 12,162ft in under 30 days. Well logs indicate 50ft of potential net oil pay in the lower sand 3ft and 46ft of potential net oil pay in two separate intervals in the Guadalupe formation.
The log analysis of Candelilla-3 suggests that the well encountered an interpreted oil water contact. Analysis of all the data from the three Candelilla wells is ongoing and will be incorporated into the geological and geophysical evaluation of the structure. The well will be cased and is expected to be on production by the end of March.
The drilling rig will move to the northeast section of the Corcel block to drill the exploration well in the area, Amarillo-1. While the rig is on the Corcel block, the company will continue to review additional prospectivity on the Guatiquia block, including an evaluation of the potential net oil pay in the Mirador and Guadalupe formations at Candelilla.
Yenac-1, the first exploration well of the company’s 13 well Central Llanos exploration program, was cased as a potential oil well based on well logs that indicated 42ft of potential net oil pay in the Mirador formation. The company has a completion rig on-site to conduct a multi-zone testing program and expect to have results by mid-April.
The second well in the program, Capybara-1, began drilling operations this month and the company expects to have initial log results by the end of March. Following Capybara-1, the drilling rig will move to the Casanare Este block to drill the third exploration well in the program, Cerillo-1. Following this program, the company will plan to move the rig to the central portion of the Corcel block, starting with drilling the C-2 development location.
On the Mapache block, the company is adding a fifth drilling rig that will execute its 10-well exploration drilling program. The first well in this program, Mapana-1, is expected to commence drilling in July.
