Project Profile
Value: US$400 million
Location: Morichito Block, Los Llanos Basin
Area: 57,252 gross acres
Start-up Year: 2013
The Morichito Block is an oil and gas exploration and production area, which covers an area of 57,252 gross acres and is located in the East Plains, Llanos Basin. Petro Vista Energy, the operator of the block, estimates a net potential production of 2,100 bopd.
The Morichito block is surrounded by analog production to the north, east, south and west. To the south, Morichito is adjacent to C&C Energia’s productive Cachicamo and Cravoviejo blocks and to the north of CEPSA’s 20,000 bopd Caracara Field and Hocol, S.A.’s 20,000 bopd Guarrojo block.
Based on seismic data and the data from DCX’s discovery well, management believes the exploration plays on the Morichito block are on the same order of magnitude as in these adjacent blocks. In March 2012, the Morichito-5 discovery well was declared to be “commercially viable” and HEVI announced plans to start production in 2013.
Operator:
Petropuli (Deep Core inc operates as a subsidiary of Heavy Earth Resource): Operator with 100% interest (after Petro Vista farmed-out Feb 2012)
Contractors:
Transocean: Drilling contractor
Rincon Energy: Integrated 3D seismic data
Petrotech Engineering: Evaluate its resource interests for the prospect