By OGJ editors
HOUSTON, Dec. 7 – A unit of Apco Oil & Gas International Inc., Tulsa, Okla., took a farmout from Petrolifera Petroleum Ltd., Calgary, to earn a 50% working interest in the Turpial license in Colombia’s Middle Magdalena basin.
Apco will reimburse Petrolifera $2.6 million in costs previously incurred on the block and carry Petrolifera for $1.9 million of planned 2010 spending on the block. Apco will earn the 50% interest after completing the reimbursement and spending $1.9 million.
Petrolifera will remain operator of the unexplored, 110,000-acre license, which lies between Velazquez and Cocorna oil fields. It plans to shoot 144 line-km of 2D seismic.
File photo from PDVSA..
Photo from Odfjell Drilling.
