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Canacol Updates Reserve Estimates After Oboe-1 Well Test
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Canacol Energy Ltd. reported reserves for its Oboe appraisal well tested in March, 2016 on the VIM 5 block.
The Oboe-1 well was completed and tested in 3 of 11 different sandstone reservoir intervals within the Cienaga de Oro reservoir. The 3 tests flowed at peak rates of 13, 26 and 26 million standard cubic feet per day. The well is in the process of being tied-in to the Clarinete flow line where it is expected to commence permanent production by September 1, 2016. Clarinete 1 and 2ST are currently producing 35 mmscfpd of gas. Oboe-1 further appraises the Clarinete gas field structure and adds 38 billion standard cubic feet of additional gas reserves to Canacol's existing portfolio of 3P gas reserves of 419 bscf.
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