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

BHP to drill first deepwater well off Trinidad in 2016, energy minister says

01/30/2015 BHP Billiton and its partner BP PLC will drill their first well in Trinidad and Tobago’s deep water in 2016 according to the Caribbean twin-island ...

Pennsylvania governor reinstates state forest drilling moratorium

01/29/2015 Pennsylvania Gov. Tom Wolf (D) signed an executive order fully reinstating a 2010 moratorium on new oil and gas leases in state forests and parks. ...

Chevron, BP, ConocoPhillips join to explore, appraise Gulf of Mexico leases

01/28/2015 Chevron Corp. subsidiary Chevron USA Inc., BP PLC unit BP Exploration & Production Inc., and ConocoPhillips Co. have pledged to work together t...

DOI’s 2017-22 draft proposed OCS program includes Mid-Atlantic sale

01/27/2015 The US Department of the Interior released a draft proposed 2017-22 Outer Continental Shelf management program that included 14 potential oil and g...

Hess cuts capital budget by 16% to $4.7 billion

01/27/2015 Hess Corp. has set a capital budget of $4.7 billion for 2015, down 16% from $5.6 billion spent last year. The company at the beginning of 2014 repo...

Obama administration proposes making ANWR Coastal Plain wilderness

01/26/2015 The Obama administration said it will propose managing more of the Arctic National Wildlife Refuge, including its Coastal Plain, as wilderness. Ala...

CNPC completes Keshen-902 appraisal well in China

01/26/2015 China National Petroleum Corp. (CNPC) has completed the Keshen-902 appraisal well in Tarim oil field at a depth of 8,038 m, 15 m deeper than the Ke...

Norway offers 54 licenses in APA 2014

01/26/2015 Statoil ASA, Lundin Petroleum AB, and E.On E&P Norge AS headlined Norway's Awards in Predefined Areas 2014 (APA 2014) licensing round for the N...

Gazprom Neft receives two Arctic shelf exploration licenses

01/26/2015 Gazpromneft Sakhalin, a subsidiary of JSC Gazprom Neft, has been awarded subsoil-use rights to the Severo-Zapadniy block on the Pechora Sea shelf a...

White Papers

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

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

Available Webcasts



Global LNG: Adjusting to New Realties

When Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

When Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST



On Demand

The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


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