New find: Global digs and finds oil in Colombia
Boral-1 probe delivers the goods
Global Energy Development has hit oil shows with the Boral-1 exploratoration well, drillled on the Rio Verde contract in Colombia.
Boral-1 was drilled to a total depth of 12,340 feet and completed and tested in the Ubaque formation.
The company said the interval between 12,053 feet to 12,059 feet was perforated with five shots per foot and flow stabilised at 369 barrels of oil per day with a 4.3% water cut.
The well produced 777 barrels of oil when an electric submersible pump was installed at a depth of 9023 feet.
The final stabilised test rate using the pump was 630 bpd with a water cut of 11.6%. Total oil recovered in the initial testing was 1276 barrels of 15.1 degrees API gravity.
Boral-1 well has now been shut-in to permit the safe demobilisation of the drilling rig to the Tilodiran-3 development well site, said the company in a statement.
Global added Boral-1 will be placed back on production on 10 June.
The presence of oil was also present in the Gacheta formation.
Both the Gacheta and the Ubaque formations will be cored to more accurately verify the lithology and fluid contents and subsequently tested in the next well drilled in the Boral field.
Ryder Scott had assigned the Boral field possible reserves totalling just over 3 million barrels of oil equivalent net to the company, but the results of the Boral-1 well should result in some of these reserves now moving to the proved and probable reserve categories.
Production from Boral-1 well is expected to supplement the company's current production which, net of royalties and state oil company participation, has been averaging around 1000 bpd.