Project Profile
Location: Middle Magdalena valley, Colombia
Production: 1,680 bopd (average gross rate during testing)
Area: 30,598 hectares
The VMM-2 (VMM 2) block is an oil block located in the Middle Magdalena valley in Colombia. The block covers an area of 30,598 hectares and consists of three wells which are being tested for conventional and unconventional targets in the La Luna and Rosablanca formations, proven oil source rocks in the area. Canacol Energy holds a 20% non-operated working interest, ExxonMobil a 70.1% working interest and Colombian Vetra E&P the remaining 9.9% operated working interest. Canacol has made a conventional oil discovery in the Mono Arana 1 exploration well in the area.
Operators:
Vetra E&P: Operator with 9.9% interest
Canacol Energy: 20% interest
ExxonMobil: 70.1% interest
Contractors:
DeGolyer & MacNaughton Canada Ltd. (D&M): Contract to prepare an independent prospective resources report. D&M provided low, best, high, and mean estimates of unrisked resources on a statistical aggregation method to block.