State-controlled Colombian oil and gas company Ecopetrol has verified a hydrocarbon discovery in a deepwater well it jointly owns in the Gulf of Mexico. Though the Warrior-2 well, located roughly 120 off the coast in the Green Canyon, is now a verified find of light crude, the exact volume is still under evaluation, said Ecopetrol in a statement.
“This second discovery in the Gulf of Mexico in the last eight months is in line with the goal we have set to position Ecopetrol as a Pan-American company.” – Ecopetrol President Juan Carlos Echeverry
Warrior-2, which was drilled to a depth of 31,646 feet, is operated by the Texas-based Anadarko Production Corporation. Ecopetrol subsidiary Ecopetrol America Inc. owns 30% of the block.
The two companies also have joint control of the nearby K2 production field, which Ecopetrol has a 9.21% stake in. The Bogotá-based firm believes that the associated Marco Polo platform presents a “clear competitive advantage” given its ability to help facilitate “streamlined” operations in the exploration of the Warrior-2 well.
If the volume of the discovery proves significant, this could be another step forward for Ecopetrol as it ramps up its exploration activity this year in an attempt to begin to extend a reserve life that sat at 6.8 years as of February.
“This second discovery in the Gulf of Mexico in the last eight months is in line with the goal we have set to position Ecopetrol as a Pan-American company,” said Juan Carlos Echeverry, president of Ecopetrol S.A. “This good news confirms the success we are achieving with our strategy to search for new hydrocarbon reserves.”