BPZ Energy spudded a new well in the Albacora development well, offshore Peru.
Map of Block Z-1. From BPZ.
Well A-22D was spudded on 10 January due to positive results from Albacora well A-27D. Both wells are located in Block Z-1.
Well A-27D was drilled to approximately 14,500ft total depth with an average of 1135 b/d gross.
BPZ says that gas is mostly reinjected due to the lack of a local commercial market at this time. The well is producing better than previous recent wells due to additional pay opened in the Lower Zorritos sands.
The company expects results from the A-22D well in April. The targeted measured depth of well is 14,445ft, which will also test the Mid and Lower Zorritos sands.
Block Z-1 is producing oil from the Corvina field CX-11 and CX-15 platforms, in addition to the Albacora field platform.
In December, BPZ completed the Corvina CX-15-14D development well that encountered continuity of sands and higher reservoir pressures.
The Corvina CX15-8D development well is currently being completed with results expected in February 2015.
According to BPZ, Block Z-1 production from the Corvina and Albacora fields for 2014 averaged 5055 gross, or 2578 b/d net to BPZ, which represents an 83% increase compared to full year 2013 production of 2761 b/d gross, or 1,408 bopd net. For 4Q 2014, production averaged approximately 5276 b/d gross, or 2691 b/d net, a 10% increase from 3Q 2014 production, and 94% higher than 4Q 2013 production.
"Given the positive results on the A-27D, we approved drilling of the A-22D well also targeting the Mid and Lower Zorritos formation, particularly the new deeper oil tested in the last three wells,” says Manolo Zuniga, BPZ president and CEO. “We have also decided to perforate deeper sands in the Albacora A-21D and A-26D in the first quarter of 2015.
These interventions should enable us to increase production with minimal capital, and we continue to look for other similar opportunities."
BPZ holds 51% interest in Block Z-1 in partnership with Pacific Rubiales Energy (49%).