Canacol Energy plans to tie in Cornamusa 1 well in Colombia

Canacol Energy Ltd. will tie in its Cornamusa 1 exploration well in the Lower Magdalena basin of Colombia after encountering multiple gas filled sandstones within the Cienaga de Oro (CDO) sandstone target.

The exploration well, on VIM-5 block, operated by CNE OIL & GAS SAS (100%), was spudded on June 5 and reached a total depth of 8,572 ft measured depth on June 21. The gas filled sandstones were encountered between 6,010 and 7,514 ft true vertical depth within the target reservoir with average porosity of 21%. The well is being completed to be tied into permanent production and flow tested in the coming weeks.

The company is currently drilling the Toronja 3 development well on its 100% working interest in the VIM 21 exploration and production contract in the same basin. The well is targeting gas bearing sandstone reservoirs within the Porquero formation which are productive in the offsetting Toronja 1 and 2 wells, the company said.

Another rig is being mobilized to drill the Claxon 1 exploration well, expected to spud later this month. The well lies about 2 km south of the Alboka 1 discovery which tested 33 MMscfd from the CDO sandstone reservoir. The well will target the same CDO sandstone reservoirs present at Alboka. Canacol expects the well will take about 4 weeks to drill, complete, and test.

Additionally, Canacol has promoted William Satterfield to senior vice-president of exploration, succeeding Mark Teare. Satterfield joined Canacol from Sanchez Oil and Gas Corp. where he served as senior vice-president of new ventures and geosciences.