Gran Tierra Nears Target Depth on Palmar Largo Well

Canadian oil company Gran Tierra Energy plans to reach a target depth of 4,330m on its Ramon Lista-1001 well at its Palmar Largo joint venture in Argentina by mid-December and begin testing in early January, the company said in a statement.

The 1001 well is located roughly 10km northwest of the Palmar Largo field in Argentina's northwest basin, and was spudded on September 25, the statement said.

Drilling is currently at a depth of 4,028m.

Gran Tierra acquired a 14% working interest in the Palmar Largo JV from South Korean oil company Dong Won Corporation last June at a price of US$7mn.

The Palmar Largo JV consists of several producing oil fields operated by Argentine oil company Pluspetrol, and currently turns out 340 barrels a day net before royalties to Gran Tierra.

Gran Tierra also owns 50% interests in two other minor properties in the northwest basin, Nacatimbay and Ipaguazu, both of which are operated by Argentine oil exploration company CGC.

About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports.

Click here for a Free two week trial to our Latin America Oil & Gas information service.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Field Engineer I - Directional Drilling
Expertise: Directional Driller
Location: Evansville, WY
 
Floorhand - Job Fair May 31st
Expertise: Floorhand / Roughneck
Location: New Iberia, LA
 
GOM Floorhand
Expertise: Floorhand / Roughneck
Location: New Iberia, LA
 
search for more jobs

Brent Crude Oil : $54.15/BBL 0.51%
Light Crude Oil : $51.47/BBL 1.45%
Natural Gas : $3.22/MMBtu 3.30%
Updated in last 24 hours