BPZ Resources has announced that its BPZ Energy unit has spudded a new well in the Corvina field. The Corvina field is in the company's offshore Block Z-1 located in northwest Peru.
The well will be close to another of the company’s wells that tested 60 million cubic feet of gas per day and 5,900 barrels of oil per day. The new well will further develop the Upper Zorritos oil sands formation and will test to see if the lower sands are also oil-bearing.
The company plans to drill to a total depth of approximately 8,800 feet (measured depth) and anticipates reaching total depth in approximately 60 days, with completion and testing operations following thereafter.
Manolo Zuniga, president and CEO of BPZ Energy, said: This well will not only allow us to continue developing the oil sands discovered by the 21XD well and appraised by the 14D well, but also give us the opportunity to prove up additional oil reserves in the Corvina field.