Exploration work accelerating in Peruvian jungle

Exploration is accelerating in Peru's jungle regions. Coastal Corp., Houston, and Enterprise Oil plc, London, each has spudded a wildcat in Peru's jungle, taking to four the number of exploratory wells currently under way there.

July 7, 1997

2 min read

Exploration is accelerating in Peru's jungle regions.

Coastal Corp., Houston, and Enterprise Oil plc, London, each has spudded a wildcat in Peru's jungle, taking to four the number of exploratory wells currently under way there.

Enterprise is drilling its third exploratory well in Peru, Santa Martha, on Block 65-M of the Mara?on basin in association with Forcenergy Inc., Houston. Enterprise earlier plugged two dry holes in partnership with Great Western Resources Inc., Houston, the company that started exploring the block 4 years ago. Great Western recently sold its interests there to Forcenergy. Enterprise expects soon to sign a new exploration contract with Perupetro SA, Peru's state oil regulatory agency, for Block 32, with an area of about 1.875 million acres, northwest of 65-M.

Meanwhile, Coastal is drilling the first of its two latest exploratory wells on Block 74 in the Ucayali basin. The company is drilling the first, Santa Catalina, to 8,500 ft. This will be followed by Orellana, targeted to 13,500 ft. Coastal last year drilled a dry hole there.

Elsewhere, Quintana Minerals Corp., Houston, is drilling ahead on the other two exploratory wells under way in Peru, on northern jungle Block 50. Quintana is operating in partnership with Argentina's YPF, France's Elf Aquitaine, and Enterprise.