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Monday, April 25, 2011

Ecopetrol Hits Hydrocarbons in Huila Province

Ecopetrol Hits Hydrocarbons in Huila Province

Monday, April 25, 2011
Ecopetrol S.A.

Ecopetrol has found the presence of hydrocarbons in the Nunda-1 well, located in the municipality of Tello in Huila province.

The well is part of the Cuisinde Exploration and Exploitation Agreement of 2006 between Ecopetrol and the National Hydrocarbons Agency, ANH in which the company holds a 100% stake.

Drilling at the well began on January 27, 2011, reaching a total depth of 7,371 feet three weeks later, the equivalent of 2.25 kilometers from the surface.

Preliminary testing on the Honda formation showed a flow volume of 318 barrels, with a 71% water cut, yielding an average of 92 barrels of oil per day. The quality of the crude is 30 degrees API.

Ecopetrol will begin appraising the find in the weeks ahead, with extensive tests planned in order to determine the production potential of the Honda formation and the volume of recoverable hydrocarbons.

The discovery opens up a new era for Ecopetrol by branching out to new types of exploration activities involving stratigraphic traps (those in which hydrocarbons accumulate due to variations in the deposit environment) in the Valle Superior del Magdalena and helps increase reserve inventories in this area of the country.

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