Arce 3 was drilled to a total depth of 2,936 feet and encountered the reservoir objective 80 feet higher than had been expected. Oil shows were recorded while drilling and from wireline logs from a depth of 2,600 feet in the Mugrosa Formation reservoir sandstones.
A pilot steam flood project, that could significantly increase flow rates, is being evaluated. Steam would be injected via Arce 1, while it is likely that Arce 2 would be a production well.
Black Rock has 50% equity in this project.
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