Pacific Rubiales Energy Corp. announced the discovery of natural gas and condensate in the Cotorra-1X exploration well, drilled on the Guama Block in the Lower Magdalena basin. The Company has 100 percent working interest in the block and is the operator.
Ronald Pantin, Chief Executive Officer of the Company commented: "this is an important exploration discovery for Pacific Rubiales and demonstrates the potential of both the Guama block and Lower Magdalena basin where the Company has a large exploration acreage position and is looking to increase its gas reserves to support its initiative to develop an LNG export market in the future".
The Cotorra-1X well was drilled as an exploratory well after an earlier exploration success on the block, the Pedernalito-1X well drilled in 2010. The well targeted Porquero Medio sands and silts of Miocene age, a low-permeability play successfully tested by Pedernalito-1X. Cotorra-1X was drilled to a total depth of 7210 feet in mid-January. The petrophysical evaluation showed a total of 40 feet of net pay, with average 20 percent porosity.
The well was perforated only in the deeper pay zone, across two intervals; leaving overlying pay zones untested for further evaluation.
After clean-up while flowing through a 1/2" choke, Cotorra-1X reached a maximum gas flow rate of 7.5 MMcf/d and 370 bbl/d 56 degree API condensate, followed by a three-stage isochronal and one extended flow test through 12/64" choke which flowed at 2.6 MMcf/d and 121 bbl/d condensate at 3137 psi well head pressure.
During the month, the Company also completed drilling the Apamate-2X exploration well on its 100 percent owned and operated La Creciente Block. The well failed to test hydrocarbon flow at economic rates and was plugged and abandoned.
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