Petrominerales has two-zone Ucayali light oil find

Petrominerales Ltd., Calgary, has made a potentially commercial two-zone light oil discovery in the southern Ucayali basin in Peru.

The company will apply for authority to shoot 3D seismic and seek regulatory approval for possible commercialization, subsequent appraisal drilling, and technical evaluations.

Petrominerales said the discovery is near river barge transportation. The area is 300 miles east-northeast of Lima and a few miles west of the Brazil border at western Acre State.

The Sheshea-1X well on Block 126 went to 8,925 ft as the company’s second exploratory well on the block (OGJ Online, June 4, 2012). Petrominerales ran four tests in three formations.

Two tests of the Permian Copacabana formation yielded water. The Cretaceous Agua Caliente formation made 80 b/d of oil with 97% water cut. The Cretaceous Chonta formation averaged 1,430 b/d of oil without water.

A 10-ft Chonta perforated interval yielded 2,235 bbl of 53° gravity oil in 37.5 hr on an electric submersible pump with solution gas too small to measure. Drawdown at the test’s end was 50%. More drilling, testing, and 3D seismic will be required to help evaluate this “encouraging discovery,” the company said.

The Chonta is currently interpreted as a shoreface sand with good lateral extent and continuity that was deposited on a preexisting high. Internally calculated potential resource volumes suggest a potential of 14 million bbl of discovered petroleum initially in place based on minimal closure to 140 million bbl based on maximum closure to interpreted spill point, Petrominerales said.

The test of an 8-ft interval in the Upper Agua Caliente on an ESP through temporary well test equipment yielded only formation water for 20 hr. After that traces of oil were observed, growing gradually to a 3% cut of 42° gravity oil by the end of the 46.8-hr flow period. The total fluid rate was 2,703 b/y. End-test drawdown was 4%.

The Agua Caliente results are encouraging, Petrominerales said. “We believe we tested a transition zone in a downdip position with a potential accumulation updip of the well. Based on our interpretation of 2D seismic data, we could gain up to 25 ft of additional elevation and potential net oil pay. Internal calculations suggest that up to 25 million bbl in place is possible for the Aqua Caliente, and more drilling, testing, and 3D seismic will be required.

Meanwhile, Clontarf Energy PLC said the Chonta and Agua Caliente formations are also present 70 km southeast of Sheshea-1 on Clontarf’s Block 188, where the 1999 Panguana well had oil shows in Chonta.

The Petrominerales discovery has validated Clontarf’s long-term belief in the potential of the southern Ucayali basin, Clontarf managing director David Horgan said.

“This was the play our management team pursued when we previously acquired neighboring blocks 114 and 131--which were subsequently sold to Petrominerales in 2010. It was also the logic behind Clontarf Energy’s acquisition of Block 188 in 2011.

“The discoveries are one of four petroleum systems present in Block 188. Continuing exploration success in this part of Peru, allied to competitive fiscal terms, strengthen the attractions of investing in Peru,” Horgan added.

Contact Alan Petzet at alanp@ogjonline.com.

Related Articles

MOL completes Ithaca Norge acquisition

07/09/2015 MOL Group, Budapest, has completed its acquisition of Ithaca Petroleum Norge from Ithaca Energy Inc. for $60 million plus possible bonuses of up to...

Stone confirms oil pay with Cardona development well in deepwater gulf

07/08/2015 Stone Energy Corp., Lafayette, La., encountered 288 ft of net pay in two intervals with its Cardona No. 6 development well on Mississippi Canyon Bl...

WAFWA: Aerial survey finds lesser prairie chicken population grew

07/06/2015 A recent range-wide aerial survey found the lesser prairie chicken population rose 25% from 2014 to 2015, the Western Association of Fish & Wil...

Buru awarded onshore Canning licenses

07/06/2015 Buru Energy Ltd., Perth, and Mitsubish Corp. have been granted two production licenses for Ungani oil field in the onshore Canning basin of Western...

Earth model assists Permian asset valuation

07/06/2015 Laredo Petroleum Inc.'s Permian-Garden City asset is an unconventional resource play with more than four potential stacked zones covering a 1,700 s...

China's Yanchi area, western Ordos basin derived from mixed source

07/06/2015 The Yanchi area lies in the west of China's Ordos basin and to the west of the giant Sulige gas field, site of recent breakthroughs in Lower Permia...

Newfoundland, Labrador prepare for deepwater exploration

07/06/2015 Canada-Newfoundland and Labrador Offshore Petroleum Board's (C-NLOPB) most recent call for bids for the Eastern Newfoundland Region is coming to a ...

Group suggests principles for Alberta royalty review

07/06/2015 The Canadian Association of Petroleum Producers (CAPP) has suggested that four principles guide Alberta in an oil and gas royalty review planned by...

US House committee leaders send letters to Plains, PHMSA about leak

07/06/2015 US House Energy and Commerce Committee leaders from both parties asked Plains Pipeline LP and the US Pipeline and Hazardous Materials Safety Admini...
White Papers

UAS Integration for Infrastructure: More than Just Flying

Oil and gas companies recognize the benefits that the use of drones or unmanned aerial systems (UAS) c...

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by
Available Webcasts


Operating a Sustainable Oil & Gas Supply Chain in North America

When Wed, Oct 7, 2015

Short lead times and unpredictable conditions in the Oil & Gas industry can create costly challenges in supply chains. By implementing a LEAN culture of continuous improvement you can eliminate waste, increase productivity and gain end-to-end visibility leading to a sustainable and well-oiled supply chain.

Please join us for this webcast sponsored by Ryder System, Inc.

register:WEBCAST


The Resilient Oilfield in the Internet of Things World

When Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.

register:WEBCAST



On Demand

Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors

register:WEBCAST


Driving Growth and Efficiency with Deep Insights into Operational Data

Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected