Third major joins Canacol in Colombia shale oil quest

03/18/2013
A ConocoPhillips Co. unit has taken a farmout from a subsidiary of Canacol Energy Ltd., Calgary, to explore and potentially develop shale oil and conventional light oil on Canacol's Santa Isabel E&P in Colombia's Middle Magdalena basin. Canacol Energy Colombia SA as operator and ConocoPhillips Colombia Ventures Ltd. will spud the first exploratory well on Santa Isabel, Oso Pardo-1, in the 2013 second quarter to test conventional light oil in the Tertiary Lisama reservoir and potential deeper oil reservoirs in Cretaceous La Luna. Oso Pardo-1 is 12 km west of Canacol and ExxonMobil's Mono Arana-1 Lisama oil discovery well on the VMM 2 block. ConocoPhillips will carry drilling, completio...
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