The Rio Cravo Este-1well has recorded a peak oil rate of 1,172bbl/d and did not produce any natural gas during the production test
Image: The production test for RCE-1 exploration well recorded a peak oil rate of 1,172bbl/d. Photo courtesy of skeeze from Pixabay.
Arrow Exploration, a Canada-based oil and gas company operating in Colombia, has announced the test results of the Rio Cravo Este-1 (RCE-1) exploration well located on the Tapir Block in the Llanos Basin of Colombia.
RCE-1 was spud in April 2019, and reached a total depth of 10,000ft measured depth within the Ubaque Formation. The well encountered 103 feet of net oil pay with most of the pay indicated on logs within the C7, Gacheta, and Ubaque formations.
In addition, the RCE-1 exploration well was perforated and tested over a 12-foot interval in the C7 A Sand, followed by a 11-day clean-up and production test period which concluded an average oil production of 613 barrels per day (bbl/d) of 28.3 API oil at a 46.5% water cut over a range of choke sizes.
The production test for RCE-1 exploration well recorded a peak oil rate of 1,172bbl/d and there was no trace of any natural gas.
Arrow earns 50% working interest in the Tapir Block
Arrow said that it has achieved its commitment to earn a 50% working interest in the Tapir Block, which has no further work commitments or land expiries for 20 years, following the drilling and completion of RCE-1.
Arrow chief operating officer Jack Scott stated: “We’re very pleased with our RCE-1 test results. Arrow has now gone two for two on exploration wells since forming the company with our success on Danes-1 late last year and current success on RCE-1.
“RCE-1 was an earn-in commitment well with an accelerated payback provision which means we’re able to recover $3 million of the cost of the well from 50% of our partner’s working interest barrels. Next steps include carrying out a pressure build-up test and putting the well on continuous production from the C7 Sand.”
Arrow is a publicly-traded company with a portfolio of premier Colombian oil assets. It’s business plan is to rapidly expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Caguan/ Putumayo Basin.