Ecopetrol Confirms Oil Discovery at Quriyana-1 in Colombia

Ecopetrol S.A. announced the confirmation of oil discovery at the Quriyana-1 well, located in the municipality of Orito, province of Putumayo, Colombia.

Ecopetrol began drilling into the Quriyana-1 exploratory well on Nov. 5, 2008, and reached a total depth of 8,445 feet (nearly 2.5 kilometers) in the first week of February 2009.

Once reaching target depth, Ecopetrol carried out Drill Stem Tests in the sandstones of the Caballos formation, both in the lower and the upper section. The identified reservoirs were tested through perforations into five zones within said formation, located at depths between 8,100 and 8,344 feet.

The initial tests showed a production of API 26 degrees crude in natural flow and a choke (well opening) of 20/64 inches. The lower Caballos formation contributed an average stable flow of 96 oil barrels per day and the upper sandstones produced an average stable flow of 195 barrels per day.

During the testing of the Lower Caballos formation, the pressure at the wellhead was 79 psi and the water percentage (BSW) was 2%. The Upper Caballos formation maintained a wellhead pressure of 70 psi and the water percentage (BSW) reached 10%.

The tests show that the combined production of the reservoirs, in natural flow, would be in the range of 300 bpd. However, the results suggest that using an artificial lifting system may prove convenient and may also improve the production of the reservoirs.

In the next few weeks, Ecopetrol will analyze the results obtained and will continue evaluating the behaviour of production and pressure in this well. It is important to note that this well is located near many other Ecopetrol production fields, which could help bring the well on stream in the short term.