In the Abanico Block, located in the Upper Magdalena Valley of Colombia, the Abanico-34 and Abanico-35 wells have been producing at an average of 1,392 bopd and 485 bopd, respectively. The increase in the average production of the Abanico-34 well is the result of a hydraulic fracturing in the Lower Guadalupe reservoir sands. Given the excellent results at the Abanico-34 well, the company is planning to perform the same type of simulation on the Abanico-35 and Abanico-20 wells.
In the La Creciente Block, the average daily production of the La Creciente "A" field is approximately 61.7 MMcfd or 10,800 boepd (1 boepd equals 5,700 cfg). The production is currently coming from wells LC-1, LC-3 and LC-4.
The combination of the aggressive development drilling campaign in the Rubiales-Piriri Block and the production coming from the exploratory and appraisal wells in the Quifa Block is what enabled gross production of those fields to reach 112,450 bopd; representing 111,400 bopd from Rubiales-Piriri and 1,050 bopd from Quifa.
The gross production operated by the company on the Rubiales, La Creciente, Abanico, Quifa, Acacias, Guaduas and Arce fields reached 127,903 bopd and the production coming from the non-operated fields of Rio Ceibas and Puli reached 2,049 bopd for a total gross production of 129,952 bopd and a total net production after royalties of 52,865 boepd.
Ronald Pantin, Chief Executive Officer, commented, "The results from the Abanico field wells underline our commitment to use the best, most-efficient technology and processes to reach our production goals."
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