Petroamerica announces test results

Petroamerica Oil announced the initial test results for its Las Maracas-8 well on the Las Maracas Field, Los Ocarros Block, Colombia. The oil and gas company operating in Colombia tested the Las Maracas-8 well over a 23-hour period from a 12-foot perforated interval in the Mirador reservoir with variable choke sizes. The well was started with an electro-submersible pump (‘ESP’) and produced at rates of more than 3,250 barrels of oil per day (‘bopd’) of light 36 degree API oil through a 21/64-inch choke size for approximately 2 hours after the removal of the completion fluid. When the ESP was turned off to avoid disruption of production operations in the field, the well was choked back and flowed naturally at variable choke sizes. When flowing naturally, during the first part of the test for a four-hour period, the average flow rate was more than 1,800 bopd on a 16/64-inch choke. The high initial test rates are reflective of the high deliverability of this Mirador reservoir. The well is now on production at approximately 1,100 bopd under natural flow with a 20.5/64-inch choke and a 3.2% watercut. Additionally, the Las Maracas-13 well has been completed and tested as a water injector, and Las Maracas-9, which is targeting the attic oil in the Gacheta and Une reservoirs in an up-dip position from Las Maracas-3, was spud on April 15, 2013 and is currently drilling ahead at approximately 9,700 feet in the Carbonera C1 Formation. The Las Maracas Field is producing between 8,500 to 9,400 bopd in total and the permanent production facility is still on schedule for completion by the end of May 2013. This well will initially be a Mirador producer, and it is expected that the Gacheta oil pay will be produced later on.

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