PetroLatina Reaches TD at Santa Lucia Well

PetroLatina provided the following update on its Santa Lucia Sur-1 exploration well.

The Santa Lucia Sur-1 exploration well, a commitment well, was drilled to a total depth of 8,500 feet, at a total cost to PetroLatina of approximately US $1.85 million. The Company has a 50% interest in the well with PetroSantander holding the remaining 50% share. Hydrocarbon shows and a well developed sand channel were encountered while drilling through the La Paz formation, but evaluation of wire-line logs indicated the reservoir to be water bearing. Following this evaluation, the well was plugged and abandoned. The remaining prospectivity in the block is being evaluated for future exploration.

Juan Carlos Rodriguez, Chief Executive Officer of PetroLatina, commented, "While we were encouraged to encounter a thick sand channel necessary for the play, we are disappointed to find the channel water filled. We now look forward to the remaining exploration and development wells to be drilled in 2010."

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Roustabout
Expertise: Floorhand / Roughneck|Roustabout
Location: Port Fourchon, LA
 
Store keeper / Warehouse - Zanesville Ohio - 6200
Expertise: Storeman|Supply Chain Management|Warehouse Person
Location: Zanesville, OH
 
Roustabout Thereafter Job
Expertise: Roustabout
Location: Silverthorne, CO
 
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours