Canacol provides drilling update
Canacol Energy has an update concerning its ongoing exploration and development drilling programs.
The Pibe-1 exploration well (VIM-21 Exploration and Exploitation Contract) was spud on 23 November 2024, and reached a total depth of 11,000 ft MD. The well is located approximately 4 km to the north of the recent Chontaduro-1 discovery in Colombia. The well encountered 1,044 ft TVD of gross gas column within the Cienaga de Oro (CDO) sandstone reservoir.
The CDO was perforated across one zone located between and 7,424 ft and 7433 ft TVD and was flow tested at 3.8 million standard cu ft/day for 3.7 hours with an average tubing head pressure of 2701 psi, and subsequently 5.1 million standard cu ft/day for 41.5 hours with an average THP of 2628 psi. The well was placed on permanent production on 13 December 2024 and is currently flowing at a rate of 5.5 million standard cu ft/day.
The Natilla-2 exploration well (SSJN-7 Exploration and Production Contract) was spud on 2 November 2024 and is targeting a large natural gas prospect with primary and secondary targets within the CDO and overlying Middle Porquero Formations respectively.
The well has reached a depth of 13,631 ft MD within the mid Porquero Formation, where drilling difficulties were encountered. The current operation is tripping out of the hole to change the configuration of the bottom hole assembly and then resume drilling to the main targets within the next week.
Canacol has also spud the Pibe-2 appraisal well (VIM-21) from the existing Pibe-1 drilling platform. The company expects results within the next three weeks.
The company also expects to spud the Clarinete-11 development well (VIM-5) within the next 2 days. The well is targeting gas bearing sandstones of the CDO reservoir, with results expected prior to year-end.
