Under the terms of the Farmout Agreement, Black Rock will expend an estimated US$3.2 million to earn (subject to Ecopetrol's approval) 50% of Kappa's rights to the Las Quinchas Association Contract. Black Rock will participate in the drilling of the Arce 3 delineation well, and the pending work-over and extended production testing of Bukhara 1. In addition, Black Rock will either fund the re-entry and deepening of an existing well-bore, or drill an alternate location to explore the potential of deeper Cretaceous reservoirs productive in offsetting fields. The combined work program is targeting both light and heavy oil accumulations with potential recoverable reserves of up to 120 MMBO.
Joint operations have commenced. A work-over rig is on location at Bukhara 1, and is currently being rigged-up. The Arce 3 lease is being constructed, and the well is expected to spud in mid-May upon completion of the Bukhara 1 work-over.
Most Popular Articles
From the Career Center
Jobs that may interest you