Houston-based BPZEnergy says it has started a reinterpretation of all Albacora well and seismic data after finding no oil in its latest well on the offshore Peru field.
The firm is currently operating under provisions of Chapter 11 of the United States Bankruptcy Court Code while it seeks additional financing. Albacora is already producing some oil, via a platform operating in the Tumbes basin offshore northern Peru.
The latest well, Albacora A-22D on Block Z-1, was drilled to a measured depth of 13,730ft. The well tested water with no oil shows from the three targeted zones which are productive in the main part of the field.
BPZ said: "These results establish the southeastern extent of the field. A reinterpretation of all Albacora well and seismic data is underway to further update the field's geologic model."
In addition, a workover has begun on the Albacora A-27D well to perforate additional untested zones. This is expected to optimize production in the well, and also provide additional data for further evaluation of the deeper Zorritos reservoirs.
Block Z-1 production from the Albacora and neighboring Corvina field for April averaged 4325 b/d gross, or 2206 b/d net to BPZEnergy.
