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Canacol Touts Oboe 1 Well Results; 2016 Guidance Forthcoming
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Canacol Energy Ltd. reported the following update concerning its gas sales, drilling operations, gas processing facilities expansion and calendar 2016 guidance.
Oboe 1 Well ResultsThe Oboe 1 well was spud on January 19, 2016 and reached a total depth of 9,750 feet measured depth on February 7, 2016. Operations were delayed due to a mechanical failure associated with the drilling rig contracted from the previous drilling contractor, necessitating the need for the Corporation to contract and mobilize a different drilling rig from a different drilling contractor to the location.
The Oboe 1 well encountered 158 feet of net gas pay with average porosity of 23% within multiple stacked sandstone reservoirs in the primary Tertiary-aged Cienaga de Oro target, representing the thickest gas pay…
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