-- The well confirms the extension of the gas reservoir
discovered at Kronos-1 in July 2015. Confirms a gas column of
more than 520 meters in this field.
-- Purple Angel-1 reached a total depth of 4,795 meters,
including a 1,835 meter water table. Just this well proved
gas presence at different intervals, with added thicknesses ranging
from 21 to 34 meters.
-- Ecopetrol holds a 50% share in this block, and Anadarko,
the operator company, has the remaining 50%. Both
companies are also partners in the United
States, where a discovery recently was announced at Warrior
well.
-- Ecopetrol increased its exploration budget this year to
US$ 650 million with the final
purpose of intensifying the search for new hydrocarbon
reserves.
BOGOTA, Colombia, March 8, 2017 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") reports
that Purple Angel-1 well proved gas presence in Colombian Caribbean
deep waters, at 4.7 kilometers of the discovery announced at
Kronos-1 well in July 2015.
Purple Angel-1 well reached a total depth of 4,795 meters,
including a 1,835 meter water table, and registered gas pay
intervals totaling an estimated 21 to 34 meter thickness (between
70 and 110 feet).
Both wells confirm the potential of this hydrocarbon province,
located in the southern Colombian Caribbean. Based on the
information obtained from the two wells, it is estimated that the
Kronos field has a gas column of at least 520 meters.
Ecopetrol holds a 50% share in the Purple Angel block, and on
Fuerte Norte and Fuerte Sur blocks. The remaining 50% share is
held by Anadarko, the operator Company.
The Bolette Dolphin, a state of the art drillship used in this
operation began drilling of Gorgon-1 well last February 25th in Purple Angel block located 27 km
Northeast of Purple Angel-1.
The drilling of this well is part of the exploration campaign
foreseen by Ecopetrol in 2017, with a 650
million dollars investment, which includes drilling five
wells in Colombian Caribbean water.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor Relations
María Catalina Escobar
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio
Tellez
Phone: + 571-234-4329
e-mail: mauricio.tellez@ecopetrol.com.co
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/purple-angel-1-well-finds-gas-in-colombian-caribbean-deep-waters-300420744.html
SOURCE Ecopetrol S.A.