Harken started first of four wildcats in Colombia

Feb 18, 1997 01:00 AM

Feb. 7, 1997 Harken Energy Corporation has begun drilling operations on the Estero No. 1 well on what has been identified as the Palo Blanco Prospect. The Estero No. 1 well is expected to reach a depth of approximately 9,100 feet and should test five oil-prone zones prevalent in the Llanos Basin: the Carbonera, Mirador, Guadalupe, Gacheta and Ubaque formations. The drillsite location was identified by Harken through seismic analysis and is on trend with two producing fields. The Santiago field operated by Lasmo Oil is to the west and Guaramena field, operated by Petrobras, is to the east. The Estero No. 1 well is located in close proximity to existing pipeline and road infrastructure which should accelerate start-up of production should hydrocarbons be discovered in this well.Harken Chairman, Mikel D. Faulkner, stated, "Our exploration program in Colombia calls for the drilling of four wildcats in 1997. In addition to these we are continuing to acquire and reprocess new seismic data, to file for drilling and environmental permits on four high potential prospects to be drilled in 1998 and to search for new acreage contracts in Colombia. We will also continue development of the Rio Negro prospect. The next development well (Torcaz No. 3) on the Rio Negro prospect is planned to be drilled this quarter.

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