PetroMagdalena Provides Production and Exploration Update

By Staff,

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PetroMagdalena Energy Corp. (PMD.V), today provided an update on its ongoing exploration program previously announced on January 18, 2012, and provided a production update for a new discovery on the Arrendajo block.

The Azor-1X well has been completed and was put on production on January 31, 2012.


Arrendajo Block, Llanos Basin: Arrendajo Norte - 1X Exploration well

After drilling the discovery well, Azor-1X, the drilling rig has moved to another location on the Arrendajo block, Arrendajo Norte-1X, where the rig spudded on January 28, 2012 and has completed drilling to 588 feet ( MD ), after logging, the surface casing has been run and cemented. It is anticipated that the well will reach the projected TD of 7022 feet ( MD ) by February 10, 2012 to test the Carbonera sequence that was successful in the Azor-1X well, which is located 3 kilometers to the north.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: MD

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