Chaza partners chase Costayaco-4 pay

Latin America player Solana Resources said the Costayaco-4 step-out on the Chaza Block in Colombia’s Putumayo basin, had been cased for production after early tests showed it had struck more than 200 feet of potential oil pay.

The well was drilled directionally from the Costayaco-2 well site to a total measured depth of 8884 metres and cores were taken from the Villeta T and Caballos formations. Full testing of the well is expected to take place during July, Solana said in a statement.

Calgary- and London-listed Solana holds a 50% stake in the Chaza block with operator Gran Tierra energy holding the remainder. The field produces about 7000 gross barrels per day at present. This is expected to rise to more than 10,000 bpd with the completion of an eight-inch export pipeline from the Costoyaco field in August.

The Pride 17 rig used to drill the Costoyaco-4 well is now moving to spud the Costoyaco-5 well.