Canadian Occidental Petroleum Ltd., Calgary, on Monday said its partner Petrobras Colombia Ltd. has drilled a successful appraisal well on the Boqueron Block in Colombia. Preliminary estimates indicate that, with waterflood support, the field could produce 280 million bbl of oil.
Guando field is in the Upper Magdalena basin, 70 km southwest of Bogota. Drilled to 3,529 ft TD, Guando-2 encountered 485 ft of net oil pay.
The well was drilled 2.3 km southwest and 730 ft downdip of the Guando-1 discovery well, which cut 506 ft of net gas pay and 510 ft of net oil pay. Guando-1 is producing 350 b/d on a long-term production test, with only the lowest 20% of the net pay zone perforated.
Guando-2 will be tested once a long-term production license has been received, says the firm.
Preliminary estimates indicate original oil-in-place of at least 1.4 billion bbl of 30� gravity sweet crude, plus gas, says CanOxy. Recovery of at least 20% is expected with waterflood support for the reservoir.
CanOxy holds a 40% working interest in the block through its partnership with Petrobras Colombia, subject to back-in rights by Empresa Colombiana de Petr�leos, Colombia's national oil company. Petrobras Colombia is operator of the Boqueron Block.
"Guando is a major discovery," says Vic Zaleschuk, president and CEO of CanOxy. "With its proximity to existing infrastructure, including an export pipeline to the Caribbean, the Guando field could be on stream within 12 months, with very attractive finding, development, and operating costs."
CanOxy and partners plan to conduct a 3D seismic program and drill up to eight additional appraisal wells this year to delineate the extent of the reservoir and determine flow characteristics and recovery factors. CanOxy and Petrobras Colombia are jointly working on a development plan for the block by the first quarter of 2001.
