Canacol Energy Ltd.’s Leono 2 well in the Llanos basin of Colombia encountered 37 m (121 ft) of net oil pay in four separate reservoirs and tested at a gross rate of 1,328 b/d of oil in the C7 reservoir during a second flow test. The well is located on the LLA23 E&P contract. Canacol has an 80% operated working interest in the LLA23 contract, with Petromont Colombia SA Sucursal Colombia holding the remaining 20% interest, according to a press release by Canacol.

The Leono 2 well was spud on Jan. 11, 2014, and reached a total measured depth of 3,844 m (12,610 ft) on Jan. 26, with strong oil and gas shows encountered while drilling through the primary reservoir targets. The well encountered 37 m of net oil pay in the following reservoirs: 3 m (10 ft) within the C7 reservoir with an average porosity of 19%; 18 m (60 ft) within the Barco reservoir with an average porosity of 18%; 8 m (26 ft) within the Gacheta reservoir with an average porosity of 24%; and 7.6 m (25 ft) within the Ubaque reservoir with an average porosity of 19%.

The Barco reservoir was perforated from 3,345 m to 3,346 m (10,974 ft to 10,979 ft) measured depth and flowed at a stable gross rate of 3,007 b/d of 37°API oil and 396 cm (14,000 cf) of gas at 66°C (150°F) with a 3% water cut using an electro-submersible pump set to a frequency of 37 hertz, according to the release. The water cut fell throughout the course of the test, and produced water is believed to be related to completion fluids used to drill the well.

Canacol plans to leave the well on production from the Barco, subject to the approval of the Agencia Nacional de Hidrocarburos. The company plans to commence drilling of the Pantro 1 exploration well located approximately 2 km (1 mile) to the south of the Leono discovery, according to the release. Pantro 1 is anticipated to be spud in mid-March 2014 and will take approximately six weeks to drill, complete, and production test. Upon completion of the Pantro 1 exploration well, the company plans to drill the first of three additional appraisal wells at Leono starting in late April 2014, followed by the drilling of the Tigro 1 exploration well located approximately 2 km to the south of the Pantro 1 exploration well.