BPZ Resources, which is engaged in oil and gas exploration and production, has announced the spud of the CX11-20XD Corvina well. The Corvina field is in the company's offshore Block Z-1 located in northwest Peru.
The CX11-20XD well will be positioned up dip from the CX11-21XD well, which tested at rates of 60 million cubic feet of gas per day and 5,900 barrels of oil per day. This well has been positioned to further develop the top gas sands found in the 21XD well, the oil sands currently producing in the 21XD and 18XD wells, as well as the oil sands encountered but briefly tested in the 18XD well during the initial DST 1.
The company plans to drill to a total depth of approximately 11,800 feet and anticipates reaching total depth in approximately 90 days, with testing and completion operations following thereafter.
Manolo Zuniga, president and CEO of BPZ Resources, said: This well allows us to continue developing the oil and gas sands discovered by the 21XD well and subsequently appraised by the 14D and 18XD wells. We will be testing prospective sands in zones not yet reached from any of our current well bores, thus we could increase reserves with successful tests.