Petrominerales, a 66% owned subsidiary of Petrobank Energy and Resources, has revealed that Candelilla-2 well is now producing over 15,800 barrels of oil per day (bopd) of 43 degree API light oil at less than 1% water cut.
The Candelilla-2 well is producing from a ten foot perforation in the lower sand 3 formation. Well logs indicated 88ft of potential net oil pay in the lower sand 3 and 51ft of potential net oil pay from three separate sands in the Guadalupe formation. The hydrocarbon prospectively of the Guadalupe intervals will be tested in future.
It is the second well into the newly discovered Candelilla structure. The first well, Candelilla-1, has flowed naturally at an average sustained rate of 12,400 barrels per day of 44 degree API light oil since it was placed on production on December 31, 2009. Combined production from both Candelilla wells is restricted to 27,000bopd due to flow-line limitations. An additional 4 1/2 inch flow-line will be installed later this week, which will allow the production to increase to the current facility capacity of 30,000 barrels of fluid per day.
The facilities are also being expanded to handle 45,000 barrels of fluid per day for the increased production potential of Candelilla-2 and further potential production additions from Candelilla-3. During the second quarter, Candelilla production will be tied into the Corcel central processing facility.
Candelilla-3, the third well into the structure, will begin drilling operations later this week with initial drilling results expected in mid-March. Following Candelilla-3, the company plans to move the rig to the northeast section of the Corcel block to drill its first exploration well in the area, Amarillo-1.
On January 31, 2010, drilling operations commenced on the Yenac-1 well on Casimena block. The well reached total measured depth of 8,334ft on February 13, 2010. Well logs indicate 42ft of potential net oil pay in the Mirador formation. The drilling rig will move to the Mapache block to begin drilling Mapana-1, the first of 10 exploration wells planned for the Mapache block in 2010.
Petrominerales is a Latin America-based exploration and production company producing oil in Colombia with 14 exploration blocks covering a total of 1.8 million acres in the Llanos and Putumayo basins and 2.6 million gross acres in the Ucayali basin of Peru.