BPZ outlines drilling progress offshore Peru

Offshore staff

HOUSTON -- BPZ Energy (NYSE: BPZ) has issued an update on development drilling on its fields offshore Peru.

In offshore block Z-1 (BPZ 51%), testing continues on the CX15-1D well on the Corvina field, which has been producing 430-535 b/d of oil from the third interval.

The second interval tested gas from the gas cap.  A gas-lift valve has been installed at this level to assist oil production from the third interval.  The first and fourth intervals remain to be tested.

Drilling of the CX15-2D should be completed early in 2014.

The Albacora 18D well reached TD of 12,600 ft (3,840 m) and was last week being completed after logs were run. 


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