Canadian independent Frontera Energy has successfully drilled a well in Colombia’s Lower Magdalena Valley, the company said on Thursday.
Frontera and exploration partner Parex Resources have hit 179 feet of potential hydrocarbon bearing reservoir onshore in the VIM-1 block. The Belleza-1 exploration well was drilled to a total depth of 11,680 feet and produced 43 degree API oil. The partners each own a 50% working interest in the block.
The company’s chief executive Richard Herbert said the testing results were encouraging, and that the light oil and natural gas combination complements Frontera’s overall portfolio mix of light and heavy crudes.
