Ecopetrol discovers new oil field

Ecopetrol announced the discovery of crude oil at the Aullador-I exploratory well located in Colombia’s Santander Province. Initial tests at the well, drilled to a depth of 11,393ft, produced 300 barrels of crude of 24 degrees API per day on the natural flow. The company said the Aullador-I exploratory well indicated low water cut and sediment of just 0.1% and a gas-oil ratio of 200. Ecopetrol plans to carry out extensive testing in the following months to define the potential of the discovery. The well is part of the Playon exploration and production agreement signed between the National Hydrocarbons Agency and Ecopetrol in April 2008. Colombia-based Ecopetrol owns two refineries in Colombia and a majority of oil and multiuse pipelines in the nation. It is also involved in exploration and production activities in Brazil, Peru and the US (Gulf of Mexico).