Exploration & Production | Drilling & Completions | Top Story
Canacol Sees Good Oil, Gas Shows at Colombian Prospect
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Canacol Energy Ltd. has reported the following update concerning its Mono Arana 1 exploration well drilled on the VMM2 Exploration and Production (E&P) contract located in the Middle Magdalena Valley of Colombia.
Subject to the completion of the formal assignment process with the ANH, Canacol holds a 20% non-operated working interest in the E&P contract, with ExxonMobil Exploration Colombia holding a 70.1% working interest and Vetra Exploracion y Produccion Colombia holding the remaining 9.9% operated working interest. The recognition of the aforementioned working interests has been submitted for the approval of the Agencia Nacional de Hidrocarburos (ANH).
The Mono Arana 1 well was spud on September 23, 2012, and was designed to test the oil potential of both the shallow conventional…
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