Shell secured 80% in the VMM3 Block, while ExxonMobil clinched 71% equity in the VMM-2 Block after Canacol farmed out stakes to the supermajors in two separate transactions earlier this year.
The two blocks sit on top of a potentially exciting shale oil fairway in the Cretaceous La Luna and Rosablanca formations.
“These wells will help prove the commerciality of the play, which still remains unproven in Colombia,” said Canacol president Charles Gamba.
Colombia
