Gran Tierra doubles oil pay with Moqueta-3 in Colombia

Source: Gran Tierra Energy

Gran Tierra Energy Inc. (NYSE:GTE) (TSX:GTE) reported preliminary results of the Moqueta-3 delineation well in Colombia. 

Initial drilling and logging results have been obtained from the Moqueta-3 delineation well, with a bottom-hole location 450 meters south of the Moqueta-1 discovery well in the Chaza Block of the Putumayo Basin. 

Oil and gas shows were recorded through the Villeta Lower U Sandstone, the Villeta T Sandstone and the Caballos formations, with electric logs indicating total net oil pay in the Moqueta-3 well increasing to 118 feet, from 44 feet encountered in the Moqueta-2 delineation well. As a result of these initial indications of increased oil pay, a test program is being designed to confirm the fluid content and productivity of the encountered zones. This test program is expected to start immediately and take approximately three weeks to complete. 

Log evaluation shows that the Villeta Lower U Sandstone reservoir has approximately 14 feet of net pay, with no evidence of gas as found in the Moqueta-1 well, suggesting the section may be oil bearing. 

Oil and gas shows encountered during drilling and log interpretations from data acquired after drilling, indicate the presence of oil-bearing reservoir sandstones in the underlying Villeta T Sandstone beginning at 4,545 feet measured depth ("MD") or 4,265 feet true vertical depth ("TVD") with an approximate potential net oil pay thickness of 53 feet. Both well logs and pressure gradient data obtained with a wireline testing tool indicate the entire T Sandstone reservoir is oil bearing in contrast to Moqueta-1 and Moqueta-2, where the zones were gas bearing. 

The underlying Caballos formation was encountered at 4,682 feet MD or 4,402 feet TVD with approximately 51 feet of potential net pay interpreted from the well logs, consisting of approximately 31 feet of potential net oil pay in the uppermost Caballos sandstone reservoir and 20 feet of potential net oil pay in the Middle Caballos reservoir. In contrast, these zones were interpreted as gas bearing in the Moqueta-1 and Moqueta-2 wells. No oil-water contact was identified for the Upper and Middle Caballos intervals. Subject to successful testing and subsequent delineation drilling, there remains potential for additional oil down-dip. The Lower Caballos reservoir has 29 feet of net reservoir with lower oil saturations than found at Moqueta-1 and Moqueta-2. The fluid type is not conclusive and this reservoir is not included in net pay; however, it will be tested to confirm the fluid type. 

The Moqueta-4 delineation well will be located approximately 1.5 kilometers southwest of Moqueta-1. The main objective is to delineate the Moqueta discovery as no gas-water or oil-water contact is evident in the existing wells. We intend to drill further down-dip with the Moqueta-4 well, and as demonstrated in Moqueta-2 and Moqueta-3, drilling down-dip has the potential to extend the oil columns encountered. 

Gran Tierra Energy has completed 20% of a new 3D seismic acquisition program on the western portion of the Moqueta area in the Chaza block. It is anticipated that the seismic program will continue to provide additional subsurface information to assist in Gran Tierra Energy's interpretation of the Moqueta field and adjacent prospectivity. 

Design and land negotiations associated with the Moqueta to Costayaco pipeline are currently underway. Upon completion of the land negotiations, the application for an environmental permit will be submitted. Construction of the eight kilometer pipeline is expected to be undertaken in fourth quarter of 2010 with long-term flow testing expected to begin in the first quarter of 2011. 

At the Costayaco field, the construction of a water injection facility was completed in September 2010. Gran Tierra Energy has commenced water injection through the Costayaco-5 well into the T Sandstone reservoir. By increasing the reservoir pressure, Gran Tierra Energy anticipates improving the recovery factor of oil reserves in the Costayaco field. 

Exploration Wells 

In addition to the drilling rig operating in the Moqueta field, Gran Tierra Energy has contracted two additional drilling rigs in Colombia, which are expected to drill the Pacayaco-1 and Taruka-1 prospects in the Chaza and Piedemonte Sur blocks, respectively. Civil construction is currently underway for the Pacayaco-1 and Taruka-1 well sites, while surface access negotiations are ongoing for the Canangucho-1 well in the Chaza block. Taruka-1 is expected to spud in December, 2010, while Canangucho-1 is expected to spud the first quarter of 2011. Pacayaco-1 is on trend and west of the Moqueta discovery and is expected to spud late October, 2010. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs