Canacol Energy Ltd. announced Thursday a natural gas discovery in the Chontaduro 1 well, its second gas discovery in weeks in the same license area in Colombia’s Lower Magdalena Basin.
Drilled to a total depth of 9,625 feet, the exploration well showed 123 feet of true vertical depth of net gas payzone with an average porosity of 21 percent in the primary Cienaga de Oro (CDO) sandstone reservoir, Canacol said in a press release.
“The CDO reservoir was perforated over a 279 ft MD Interval and the well tied into the Jobo gas treatment facility”, added the Calgary City, Canada-based company focusing on Colombia. “The well started at a production rate of 5 million standard cubic feet per day (‘MMscfpd’) for 2 hours at a choke 29/128” and a THP [tubing hanger pressure] of 2290 psi [pounds per square inch]”.
“The rate was increased to 8 MMscfpd for another 2 hours with the choke at 30/128. The rate was increased increments of 1 MMscfpd over a period of 5 hours and the choke until it reached 12 MMscfpd. The choke at the final rate was 36/128” and a THP of 2260 psi. The well continues to produce at a rate of 12 MMscfpd over the past 29 hours with a stabilized THP of 2260 psi”.
Canacol said it was skidding the rig that drilled Chontaduro 1 to drill the Chontaduro 2 appraisal well, targeting the same reservoir in the southern part of the discovery.
“Chontaduro 2 will spud on April 18, 2024, and will take approximately 3 weeks to drill and complete”, the news release stated.
The wells sit in the VIM21 exploration and production contract, which is 100 percent owned by Canacol. The conventional gas contract covers 27,410 acres, according to information from Canacol’s website.
The Chontaduro discovery follows that of the Pomelo 1 discovery in VIM21 announced March 27, 2024. Drilled to a total depth of 12,276 feet, the Pomelo 1 exploration well encountered 96 feet of true vertical depth of net gas payzone with an average porosity of 21 percent in the primary CDO sandstone reservoir, Canacol said in a media release at the time.
Last year in the same license area, Canacol made the Lulo gas discovery. Drilled to a total depth of 8,434 feet, the Lulo 1 exploration well encountered 207 feet of true vertical depth of net gas payzone with an average porosity of 21 percent in the same reservoir, Canacol announced May 3, 2023.
VIM21 is one of 11 Canacol gas contracts in the Lower and Middle Magdalena basins of the South American country. The contracts total 1.5 million net acres. Only one has been put into production, the 16,055-acre Esperanza, according to Canacol’s online assets inventory.
Canacol holds a 100 percent stake in 10 of the contracts. India’s state-owned ONGC Videsh Ltd. owns a 50 percent interest in the SSJN 7 contract, Canacol says on its website.
Besides gas, Canacol also owns oil assets in Colombia through 20 percent stakes in the VMM2 and VMM3 contracts with operator Houston, Texas-based ConocoPhillips Co., as well as the producing Rancho Hermoso contract (30 percent) with Colombia’s state-owned Ecopetrol SA.
Canacol had 106.6 million barrels of oil equivalent in proven and probable (2P) oil and gas reserves, valued at $1.8 billion post-tax, as of yearend 2023, according to a company update March 21, 2024.
“In 2023 we added 20 Bcfe [billion cubic feet equivalent] of 2P reserves and deemed volumes, an increase of 3 percent, and added 21 Bcfe to the 1P reserve and deemed volumes for an increase of 6 percent”, chief operating officer Ravi Sharma said in a statement at the time.
“Our core fields, Clarinete, Nelson, Aguas Vivas and Pandereta continue to perform well and saw increases in 1P reserves.
“Our 2P increases were limited due to lack of exploration success at the near field Cereza and Piña Norte prospects, and our inability to get the Natilla exploration well drilled to the target interval due to technical difficulties drilling the well and the sidetrack”.
