BOGOTA, Colombia, Dec. 15, 2016 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC) ("Ecopetrol") reports a hydrocarbon
discovery in the recently drilled Warrior exploratory well, located
in the Green Canyon area in the Gulf of
Mexico (United States).
The well is operated by Anadarko Petroleum Corporation, with
Anadarko US Offshore LLC owning 65% of the block. Ecopetrol America
Inc. owns 20% and MCX Exploration (USA) LLC owning the remaining 15%.
Drilling reached a total depth of 26,957 feet (8.216 m) in water
depths of 4,144 feet (1.263 m). The Warrior exploratory well
encountered more than 210 net feet (64 m) of oil pay in multiple
high-quality Miocene-aged reservoirs.
This discovery is part of Ecopetrol's new exploration strategy
in the Gulf of Mexico, which
consists of exploring for resources near existing infrastructure.
The Warrior discovery is expected to be tied back to the nearby
Marco Polo production facility, also operated by Anadarko. The K2
Field, where Anadarko is operator and Ecopetrol has a 9.21%
interest, also produces into the Marco Polo production facility,
all of which are within a 3-mile radius.
"We are pleased to end this year with such an important
discovery, which contributes to our main goal of increasing
reserves. This achievement evidences Ecopetrol's ability to
strengthen its presence in one of the most prospective areas in the
world as is the Gulf of Mexico",
said Juan Carlos Echeverry,
Ecopetrol's CEO.
During the second half of this year, the average production of
Ecopetrol America Inc. in the Gulf of
Mexico exceeded 10 thousand barrels equivalent oil per day
(Boed), much of which comes from the Gunflint Field, which was
discovered in 2008, where Ecopetrol America Inc. owns 31.5%.
Warrior is the fifth discovery of Ecopetrol in the United States, following the most recent
discoveries: Rydberg and León in 2014, Dalmatian South and Parmer
in 2012
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please
contact:
Head of Corporate Finance and Investor Relations
María
Catalina Escobar
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
e-mail: mauricio.tellez@ecopetrol.com.co
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ecopetrol-announces-hydrocarbon-discovery-in-the-gulf-of-mexico-usa-300379575.html
SOURCE Ecopetrol S.A.