Project Profile
Location: Near Maniceno discovery, Llanos basin, Colombia
Area: 100,000
Production: 2,600 gross bopd
Drilling Depth: 11,594 feet
Apco Oil and Gas International Inc. participated in the drilling of two exploration wells in Colombia\'s Llanos 32 block during the first quarter of 2013. Apco participates in the block with a 20% working interest. Block interests are P1 Energy 40%, Parex Resources Inc. 30%, Apco International Oil & Gas Inc. 20%, and Geo-Park Holdings Ltd. 10%. The first well, the Bandola #1, is located near Apco\'s previous Maniceno discovery and reached a total depth of 11,594 feet. From the Mirador formation, the well flow tested an average rate of 3,094 gross barrels of oil per day over a nine-hour period with a water cut of less than 1 percent. The well began production in early April 2012 and is currently producing at a natural flow rate of 2,600 gross bopd. The second well, the Llanita #1, is located on a seismically identified prospect in the southern half of the block. It was drilled to a total depth of 11,100 feet targeting the Mirador formation. After evaluating the well\'s electric logs, Apco decided not to participate in casing operations to further investigate the well. Apco now plans to test its Turpiales #1 exploration well before the end of April 2013. Log interpretations made at the time of drilling in late 2012 indicate the presence of oil requiring testing. Going forward, Apco will participate in the acquisition of 100 square kilometres of additional 3D seismic in the Llanos 32 block during 2013. Acreage is estimated around 100,000.
Operators:
P1 Energy: Operator with 40% interest
Parex Resources Inc.: 30% interest
Apco International Oil & Gas Inc.: 20% interest
Geo-Park Holdings Ltd.: 10% interest