Ziegler holds a 10% participation in the block, while local consulting group CCP holds 70%.
Once drilling begins, the Huaya 100-1X well will require roughly one week to reach total depth, the statement said.
Ziegler experienced drilling problems in early-December that led to a suspension of activities.
Reactivation of the first shut-in oil well on the Bosques block, in which Radial also holds a minority stake, is expected first quarter next year depending on rig availability.
"We are quite excited about the reactivation of the first well in Colombia, which offers a low-risk opportunity to produce oil and generate revenue," Radial president G Leigh Lyons said in the statement.
Visit BNamericas to access our real-time news reports, 10-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.
Most Popular Articles
From the Career Center
Jobs that may interest you