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Pacific Rubiales hits pay in Colombia

Canadian producer Pacific Rubiales Energy has discovered oil at its Abanico-20 well within the Abanico Block, in the Upper Magdalena Valley of Colombia.

The Abanico-20 exploratory well was drilled in the northeastern section of the Abanico oilfield.

Pacific Rubiales said in a statement that the well found the Lower Guadalupe Member at 2986 feet measured depth, or 1809 feet true vertical depth at sub-sea level.

The initial, natural flow oil production was 901 barrels per day of 22.5 degrees API oil.

The well extends the known accumulation of the field to the northeast.

The company is now planning an extended production test.

Pacific Rubiales has a 50% working interest in the non-commercial area of the Abanico Block, where this well is, and which was bought by the company in the Kappa Resources acquisition last year.

The company has a current net production of around 34,000 barrels of oil equivalent per day, with working interests in 34 blocks in Colombia and Peru.

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