By OGJ editors
HOUSTON, Feb. 16 -- A group led by Pluspetrol SA has hiked production to about 2,300 b/d of oil in the fourth quarter of 2005 on the Palmar Largo block in the Noroeste basin near the border with Paraguay.
Latest well to go on production is Ramon Lista-1001, TD 4,301 m in January 2006. Production, initially 428 b/d, 10% water, from 15 m in Cretaceous Yacoraite at 4,132-47, stabilized at 340 b/d with low water cut. This zone is on production.
The well also cut Yacoraite pay at 4,186-93 m and 4,149-69 m, said Gran Tierra Energy Inc., Calgary.
Interests in the 301,700-acre Palmar Largo block are Pluspetrol 38.15%, Repsol YPF 30%, CGC 17.85%, and Gran Tierra 14%.
Palmar Largo has 35 wells producing. Cumulative production since 1984 is 39 million bbl of oil. Gran Tierra's proved reserves on the block are 625,000 bbl before royalties, subject to independent verification.