Exploration & Production | Operational Updates | Discoveries
Petroamerica Oil Corp. Shows Large Production Increase with New Discovery
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Petroamerica Oil Corp., a Canadian oil and gas company operating in Colombia is pleased to announce two new oil discoveries, present its expected 2014 production and capital expenditure guidance, and provide an operations update for ongoing activities in Colombia (note: all financial amounts shown are in United States Dollars unless otherwise stated).
Highlights La Casona-2 discovered light 47 degree API oil in the Mirador Formation, testing at rates of 545 barrels of oil per day (bopd) and 3.6 million standard cubic feet per day (MMscfd) of gas on a restricted choke; Rumi-1 discovered 15.5 degree API oil in the Une Formation, testing approximately 1,000 bopd under natural flow conditions; La Guira-2 well has reached its target depth of 12,600 feet and is currently being logged. December…Finish this article — free account or subscription
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