Drilling / Well Results | Production | Key Wells | Initial Production Rates | Drilling Activity

Gran Tierra to Drill Second Acordionero Well After Good Result

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   |    Tuesday,November 15,2016

Gran Tierra Energy has reported exploration and development updates.

Acordionero Field - Development

(Gran Tierra 100% Working Interest and Operator)

As previously announced, the Acordionero-5 well was drilled and cased as a producer in the Lisama A and C formations with 997 feet of gross oil pay. The well has subsequently been completed with 866 feet of perforations and a large capacity electric submersible pump was installed. The well began producing on November 10, 2016, and is currently on stable clean up at 1,557 barrel of oil per day, gas-oil ratio of 98 standard cubic feet per barrel and 1% water-cut. Cycle time from the acquisition of the Acordionero field, by way of the acquisition of PetroLatina Energy Limited which closed on August 23, 2016, to the first Gran Tierra-operated well being tream, was approximately 10 weeks during which contracting of a new rig, civil works, surface tie-in and drilling and completion activities were executed.

The drilling rig has been moved to Acordionero-7, the next development well and is expected to spud over the next few days. The Acordionero-7 well is designed to be drilled horizontally sin the Lisama A formation to a maximum depth of 10,894 feet, and will help appraise the as yet unconfirmed oil-water contact in the pool. The well is expected to be placed on production before the end of December 2016.

Putumayo 7 (PUT-7) Block - Exploration

(Gran Tierra 100% WI and Operator)

Gran Tierra commenced its "N" sands exploration program on the PUT-7 Block with the drilling of the Cumplidor-1 exploration/appraisal well. Cumplidor-1 has a target zone defined by amplitudes on 3D seismic, and was spud on October 20, 2016. The well reached a final total measured depth of 11,280 feet (9,399 vertical feet of total depth) on November 8, 2016 and was drilled as per plan in 19.5 days.

The well encountered 65 feet of gross interval in the "N" sands, with two sands having 34 feet measured depth of interpreted net oil pay based on logging while drilling ("LWD") logs obtained while drilling, which is approximately 15% greater than pre-drill estimates. Average porosities from log evaluation are estimated to be 21%, with maximum porosities of up to 28%. The "N" sands reservoirs encountered in Cumplidor-1 appear to be thicker than those currently producing within the adjacent Quinde field.

Gran Tierra has run 7-inch diameter production casing in the Cumplidor-1 well which was cemented in place on November 13, 2016. The well is expected to be tested over the next two weeks, prior to putting the well on long-term production testing and releasing the drilling rig to Alpha-1.

Gran Tierra expects to spud the Alpha-1 exploration well from the same pad as the Cumplidor-1 well prior to the end of November 2016. The well is designed to test the "N" sand amplitude anomaly identified on 2D seismic, further extending the success observed with the Cumplidor-1 well. Drilling is expected to take 24 days and if successful, is expected to be on production before the end of 2016.

The early production facility for the Cumplidor-1 and Alpha-1 wells, and other potential follow-up development wells, is currently in the final stages of construction; mechanical and electrical works continue on schedule. The facility is on schedule to be complete in late November 2016.

Guriyaco-1 Exploration Well

(Gran Tierra 100% Working Interest and Operator)

Gran Tierra has mobilized stimulation equipment and was be pumping the first acid stimulation in this well on November 14, 2016. As previously disclosed, selective testing and stimulation of the different reservoir zones are expected to begin in mid-November 2016 with results expected late November 2016.

Costayaco-19 and -9 "A" Limestone Wells

(Gran Tierra 100% Working Interest and Operator)

Costayaco-19 continues to show strong production performance with no production decline and produced an average of 2,072 bopd over 24 hours on November 12, 2016.

Costayaco-9 has been producing approximately 450 bopd on natural flow. A coiled tubing unit is currently on this well running the final jet pump for production.