Apco Continues Exploration Efforts in Colombia
22 April 2013 - 12:30PM
Business Wire
Apco Oil and Gas International Inc. (NASDAQ:APAGF) 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 percent working interest.
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 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. 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 kilometers of additional 3D seismic in the Llanos 32 block
during 2013. Apco also plans to drill its second exploration well
in the Turpial block this year and begin the construction of well
sites to support its 2014 drilling campaign in the Llanos 40
block.
“We are satisfied with the results we have achieved so far in
Colombia where we have drilled five exploration wells. Three have
been tested as oil discoveries and a fourth well is about to be
tested for its oil potential,” said Michael Kyle, Apco’s chief
operating officer.
“We are hopeful that over the balance of 2013 and into 2014 we
can continue our efforts to make Colombia an important contributor
to Apco’s income and cash flow,” Kyle added.
About Apco Oil and Gas International Inc. (NASDAQ:
APAGF)
Apco Oil and Gas International Inc. is an international oil and
gas exploration and production company with interests in nine oil
and gas concessions and two exploration permits in Argentina, and
three exploration and production contracts in Colombia. More
information is available at www.apcooilandgas.com. Go to
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