The company’s 1028 well on the eastern limits of the of Puesto Morales Block flowed 46 degree API light gravity crude oil to surface from the shallow Centenario Formation on test through an 24 millimeter choke at a calculated rate of 1,500 bbl/d and then at a calculated rate of 1,200 barrels a day through a 18 millimeter choke. The well was subsequently completed and placed onstream at a stabilized rate of 500 bbl/d and continues to produce as a flowing oil well at yesterday’s rate of 435 bbl/d. Follow-up drilling of offset locations in the vicinity of the 1028 well is anticipated later this year.
This is the first and only test of the Centenario on the Block since Petrolifera activated its drilling program in late 2005. The Centenario Formation was naturally penetrated with all wells which have been drilled on the block. Oil shows have been encountered in this zone in a number of other wells on the block, although none were previously tested due to the deeper and more prolific productivity encountered in the Sierras Blancas or Punta Rosada Formations.
Some follow-up drilling of shallow twins to existing Sierras Blancas producers to further evaluate the breadth of the play is anticipated, including in proximity to the 1018 well and the 1027 Sierras Blancas discovery, which tested 34 degree API Medanito crude oil through an 18 millimeter choke at a rate of 2,200 bbl/d and is currently producing through a 12 millimeter choke at rates slightly in excess of 1,000 bbl/d.
The company is continuing its testing program of the Puesto Morales 1022 well, which encountered a calculated 25 meter thick, well-developed Sierras Blancas section. This well is within the 1002- 1012-1013-1023 central accumulation and flowed light gravity 34 degree API crude oil to surface on test at rates in excess of 900 bbl/d. Further testing is anticipated before the well is tied in and placed on permanent production.