Ecopetrol & Anadarko Strike Oil Off Colombia’s Atlantic Coast, Almost 4km Deep

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) has issued a statement indicating that, along with partner Anadarko, it has verified the presence of hydrocarbon resources at the ultra-deepwater depth of 3720 meters, via its Kronos-1 well in the Fuerte Sur block. This discovery validates the proposed geological model for this previously unexplored area with high hydrocarbon potential. Anadarko and Ecopetrol, each hold a 50% interest in this asset.

Ecopetrol CEO Juan Carlos Echeverry

After drilling at a water depth of 1584 meters (5195 feet), the well reached total depth of 3720 meters (12200 feet) and encountered a net pay thickness between 40 to 70 meters (130 to 230 feet) of gas bearing sandstones. Ecopetrol and Anadarko’s integrated technical teams are continuing to evaluate the Kronos discovery results. As of publication, the drilling operation continues, aiming to reach a deeper target to determine possible additional results.

“We are pleased to announce this discovery in Colombian Caribbean deepwater, this time accompanied by Anadarko. This discovery adds to the one accomplished in December at the Orca-1 well, located in the deep water of Tayrona block offshore Guajira, where we are partners with Petrobras, Repsol and Statoil. These results are very important and confirm the potential of the Colombian Caribbean petroleum system in a vast area and are aligned with Ecopetrol´s new strategy, in which one of the key areas is the exploration on high potential marine basins,” Ecopetrol president Juan Carlos Echeverry said.

The Bolette Dolphin drilling ship at the Kronos -1 site in the Colombian Caribbean Sea, Southwest of Cartagena

In 2012, the Ecopetrol – Anadarko partnership began exploratory operations in the South Caribbean in blocks Fuerte Norte, Fuerte Sur, COL5, URA4 and Purple Angel. Once activities at Kronos-1 are concluded, the drillship Bolette Dolphin, employed in this operation, will move to Fuerte Norte Block to continue drilling Calasu-1 well, located 145 Kilometers or approximately 100 miles north east of Kronos-1.

Anadarko, is one of the most experienced companies worldwide in deepwater and ultra-deepwater exploration, project management and execution. Currently Anadarko is executing the biggest seismic acquisition campaign in the history of the Colombian Caribbean with an extension of more than 16,000 square kilometers.

Images courtesy of Ecopetrol.

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