Ecopetrol has discovered oil in at the Búfalo-1 well in the Valle Medio del Magdalena, located near the town of Guaduas, Department of Cundinamarca.
Image: An onshore oil well. Photo: Photo by Zbynek Burival on Unsplash.
The finding recorded a depth of 1,153 meters, in the Middle Magdalena Valley basin, where the presence of dry gas and light crudes was evident in the Grupo Honda.
Bufalo-1 is operated by Ecopetrol, who holds a 51% stake, and its partner CPVEN E&P Corp, who holds a 49% interest. The well is the first discovery in the VMM32 Exploration Contract.
The drilling works complied with environmental requirements, there were zero accidents and the works were in complete harmony with the communities in the area.
The Bufalo-1 well is located very close to Ecopetrol’s transport infrastructure, which could facilitate its commercial production stage.
Source: Company Press Release