The finding is located in the CPO-10 block, where Ecopetrol has 100%
This is the third finding of Ecopetrol in 2013
The well produced crude of 13.8° API with a water cut of 4%.
BOGOTA, Colombia, May 27, 2013 /CNW/ - Ecopetrol S.A. (BVC: ECOPETROL;
NYSE: EC; TSX: ECP) announces that it has proven the presence of
hydrocarbons at Cusuco 1, an exploratory well located within the
municipality of San Carlos de Guaroa, Meta Province, Colombia.
Cusuco 1 is part of the CPO-10 Exploration and Production Agreement of
December 18, 2008 between Ecopetrol and the National Hydrocarbons
Agency. Ecopetrol holds 100% interest in this block.
Initial tests carried out on the Cusuco 1 well, using an artificial lift
system, yielded an average crude oil production of 140 barrels of oil
per day (BOD) of 13.8° API and a water cut of 4%. Ecopetrol will keep on running extensive
testing in the coming weeks.
Ecopetrol is Colombia's largest integrated oil & gas company, where it
accounts for 60% of total production. It is one of the top 40 oil
companies in the world and the fourth largest oil company in Latin
America. The Company is also involved in exploration and production
activities in Brazil, Peru and the United States Gulf Coast, and owns
the main refineries in Colombia, most of the network of oil and
multiple purpose pipelines in the country, petrochemical plants, and is
entering into the biofuels business.
This release contains forward-looking statements relating to the
prospects of the business, estimates for operating and financial
results, and those related to growth prospects of Ecopetrol. These are
merely projections and, as such, are based exclusively on the
expectations of management concerning the future of the business and
its continued access to capital to fund the Company's business plan.
Such forward-looking statements depend, substantially, on changes in
market conditions, government regulations, competitive pressures, the
performance of the Colombian economy and the industry, among other
factors; therefore, they are subject to change without prior notice.
(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )
SOURCE: Ecopetrol S.A.
For further information:
Investor Relations, Alejandro Giraldo, Phone: +571-234-5190, Email: email@example.com; Media Relations (Colombia), Mauricio Tellez, Phone: + 571-2345377, Fax: +571-2344480, Email: firstname.lastname@example.org