Ecopetrol Announces Discovery in Magdalena Medio

By Staff,

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Ecopetrol S.A. (ECP.TO) reports that it has proven the presence of crude oil at the Aullador-I exploratory well located in Santander province, 27 kilometers from the municipality of Sabana de Torres. The well is part of the Playon Exploration and Production Agreement signed by Ecopetrol and the National Hydrocarbons Agency ( ANH ) on April 24, 2008.

The well was drilled to a depth of 11,393 feet. Tests averaged 300 barrels of crude oil per day of 24 degrees API, obtained by natural flow. The well shows low watercut and sediment (BSW) of only 0.1% and a gas-oil ratio of 200.

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This article appears in: Investing Commodities
Referenced Stocks: ANH

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