Page 7 - LatAmOil Week 16 2022
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LatAmOil                                       COLOMBIA                                            LatAmOil



       Arrow Exploration gearing up for




       production testing at RCE-2 well






                         CANADA’S Arrow Exploration is nearly ready   already drilled one other well – the RCE-1 rec-
                         to begin production testing at Rio Cravo Este-2   ompletion well, which may boost net produc-
                         (RCE-2), a new development well drilled at the   tion by 360 barrels per day (bpd) – at the Rio
                         Tapir block in Colombia’s Llanos basin.  Cravo Este section of Tapir. Rio Cravo Este
                           In a statement dated April 14, Arrow   is estimated to contain 3.8mn barrels of oil in
                         reported that it had finished drilling the well to   proven, probable and possible reserves, and
                         a true vertical depth (TVD) of 9,674 feet (2,949   Arrow has said it may drill up to four or five
                         metres). It also said it had completed the casing   wells there.
                         of the well on April 18 and expected to wrap up   Its next development drilling target at the
                         cementing on April 20. Once these tasks have   field was originally known as RCE-3 but has
                         been finished, it said, production testing can   been renamed RCS-1. Both RCE-2 and RCS-1
                         begin.                               are anticipated to push output levels up by
                           Arrow’s production testing programme   around 360 bpd each. ™
                         is thorough, with testing periods lasting for
                         approximately five days in each zone, the state-
                         ment added.
                           It went on to say that the RCE-2 well had
                         penetrated the targeted formations at the opti-
                         mal structural elevations. The well had encoun-
                         tered nearly 80 feet (24.4 metres) of cumulative
                         net pay over five separate known producing
                         horizons, it reported.
                           Marshall Abbott, the CEO of Arrow, was
                         quoted in the statement as saying that he had
                         high hopes for the new development well, which
                         was spudded on April 2. “From the data we have,
                         several of the pay zones are attractive, and like
                         the RCE-1 well, we believe more than one pay
                         zone will be productive,” he commented.
                           AIM-listed Arrow, which is focused on
                         Colombia, has a 50% stake in Tapir and is serv-
                         ing as operator of the block. The company has   The Tapir block is located in the Llanos basin (Image: Arrow Exploration)



       Duque says Colombia can ramp up oil



       production more quickly than Venezuela






                         COLOMBIAN President Ivan Duque asserted   serious obstacles if it attempted to expand out-
                         last week that his country was in a better posi-  put rapidly.
                         tion than Venezuela to ramp up oil production   For one thing, he said, Venezuela’s national
                         quickly to answer the US government’s requests   oil company (NOC) PdVSA is facing technical
                         for help with the supply imbalances that have   problems that limit its ability to accelerate pro-
                         arisen on world energy markets because of the   duction growth.
                         Russia-Ukraine conflict, which broke out in late   He made a reference to the “deterioration”
                         February.                            of PdVSA’s production and processing infra-
                           Speaking during an interview with Bloomb-  structure since the imposition of US sanctions
                         erg News, Duque contrasted his country’s   on the Venezuelan oil sector, pointing out that
                         capabilities with those of Venezuela, saying   the company would need time to make up the
                         that the latter state’s oil industry would face   ground it had lost.



       Week 16   21•April•2022                  www. NEWSBASE .com                                              P7
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