Get the contact information of thousands of key executives that drive business in Latin America. While the lowered reservoir pressure impacts potential flow rates, the well has identified a part of the structure which contains resources which have never been previously drilled and developed. The Acorazado-1 exploration well was drilled to a total measured depth of 15,470 feet (15,197 feet true vertical depth) and encountered 356 feet of gross thickness in the Mirador formation sandstone reservoir. All Rights Reserved. Richard Herbert, Chief Executive Officer of Frontera, commented: "The Acorazado-1 exploration well is the fourth exploration discovery in Colombia so far in 2018, adding to the discoveries at Alligator and Coralillo on the Guatiquia block, and Jaspe in the Quifa area. The Mirador VI reservoir, was tested from 20 feet of perforations, using a DST-TCP tool with an average 2,360 psi drawdown for 52 hours during the main flow test prior to a pressure buildup test at an average rate of 455 barrels of fluids per day at natural flow. Subscribe to BNamericas to gain access to projects, contacts and news related to Frontera Energy Colombia AG (Frontera Energy Colombia). This maintains our 100% track record of discoveries in Colombia in 2018. The Mirador I to IV commingled reservoir was tested from 79 feet of total perforations, using a DST-TCP tool with an average 940 psi drawdown for 16 hours at an average rate of 370 barrels of fluids per day with a small volume of oil and natural gas. Cocodrilo-1 (Guatiquia block): the third exploration target on the Guatiquia block in 2018, is targeted to spud in mid-November with drilling and testing operations complete by year end. Address Chile: Los Militares #6191, Las Condes, Santiago, Chile. The Company remains on track to deliver annual production at or close to the low end of the guidance range of 65,000 to 70,000 boe/d, despite three months of downtime related to pipeline issues in Peru (over 2,000 bbl/d impact on 2018 average production), a blockade in the first quarter at Cubiro in Colombia (approximately 500 bbl/d impact on 2018 average production) and higher than planned high price royalty payment volumes at Quifa (over 2,000 bbl/d impact on 2018 average production). var ssdl = ssdl || {} The Company's strategy is focused on sustainable growth in production and reserves. We expect to add to production during the fourth quarter as the water handling expansion project at Quifa SW is brought on-stream. This news release contains forward-looking statements. Request demo, Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more. Request demo. 'Region' : 'South_America', The Company is considering participation in the Intracampos Bid Round in Ecuador, and any license round activities from the ANH in Colombia. The purchase price is determined by a formula and is currently approximately US$85 million.

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