According to Ecopetrol, the well was drilled by Meta Petroleum as operator of the Quifa joint venture agreement that it entered into with Ecopetrol. The well’s final depth was reached in November 2008.

The well is producing at an average rate of 220 barrels of crude oil per day, according to initial tests conducted by the operator over the past few weeks.
Ecopetrol is responsible for 30% of the exploration costs being carried out jointly with Meta Petroleum, and is receiving 40% of the hydrocarbons production from each commercial field, after deducting royalties.

Earlier in November 2008, Ecopetrol signed a participation agreement with the Italian company Eni to drill at least five leaflets deepwater Gulf of Mexico (GoM) between 2008 and December 2012. 

The five leaflets will be selected to submit a portfolio of Eni and will be assessed jointly by the two companies.  The agreement provides that Ecopetrol will have stakes of between 20% and 25% in the prospectus.  Initial assessments indicate that Ecopetrol’s investment could exceed U.S. $ 220 million.

Ecopetrol is an integrated company in the chain of oil, located in Colombia.  The company has a presence in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico).  Ecopetrol claims to have the largest refinery in Colombia.