(WO) — Gran Tierra Power Inc. introduced that it made one other oil and gasoline discovery in South America. In accordance with the monetary assertion, that is fifth discover within the space since resuming exercise post-COVID.
Supply: Grand Tierra Power
“We’re happy to announce that Gran Tierra has efficiently made one other oil discovery with the Charapa-B6 nicely on the Charapa Block in Ecuador. This important discover is situated simply west of the just lately found Arawana-J1 and Bocachico Norte-J1 wells on the Chanangue Block, additional underscoring the potential of this extremely potential area,” stated Gary Guidry, President and Chief Government Officer of Gran Tierra.
“The Charapa-B6 nicely marks our third oil discovery in 2024, and remarkably, our fifth in Ecuador since we resumed our exploration marketing campaign after the disruptions brought on by the pandemic.”
Charapa B6 oil discovery. Gran Tierra has run manufacturing casing, cemented and perforated the Hollin oil zone and has begun manufacturing testing.
The Hollin oil zone was perforated over 50 ft of reservoir with 45 ft of reservoir pay primarily based on log analysis. A jet pump was run and the nicely has produced at stabilized charges over 53 hours at 2,118 bopd, 28.2-degree API gravity oil, a 2.2% water minimize, and a gas-oil ratio (“GOR”) of 21 commonplace cubic toes per inventory tank barrel (“scf/stb”).
That is the primary exploration nicely drilled within the Charapa Block for the reason that profitable Charapa B5 nicely was drilled in 2022. The corporate says it continues to “construct confidence and solidify our understanding of each the Charapa and Chanangue Blocks with every profitable exploration nicely drilled. To this point, the Charapa-B5 nicely has produced over 280,000 bbl of oil.
The rig has been moved to drill the Charapa-B7 exploration nicely, which was spud on August 9, 2024.
5 consecutive Ecuador oil discoveries. Gran Tierra has efficiently drilled 5 exploration wells in Ecuador, every resulting in an oil discovery. Three of those 5 wells are drawing medium to mild hydrocarbons from distinct geological zones, highlighting the distinctive potential of the Oriente and Putumayo basins and the numerous exploration alternatives that stay inside each the Charapa and Chanangue Blocks.
“This sequence of discoveries is a testomony to the dedication and experience of our workforce, and it reaffirms the worth of our strategic deal with excessive influence close to subject exploration in Ecuador. This discovery will not be solely a mirrored image of the profitable implementation of our exploration technique but in addition a powerful indicator of the promising future that lies forward for Gran Tierra in each Ecuador and Colombia. As we proceed to discover and develop our belongings within the Putumayo and Oriente basins, we anticipate to leverage our learnings from these exploration wells on each side of the border”, concluded Guidry.
