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  1. Market Data
May 12, 2022

REX NE Conventional Oil Field, Colombia

By Carmen

REX NE is a producing conventional oil field located onshore Colombia and is operated by SierraCol Energy Arauca. The field is located in block Cosecha.

Field participation details

The field is owned by SierraCol Energy, Repsol and Ecopetrol.


Production from REX NE

The REX NE conventional oil field recovered 13.17% of its total recoverable reserves, with peak production expected in 2023. The peak production will approximately 12.77 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2071. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 69.87 Mmboe, comprised of 69.87 Mmbbl of crude oil & condensate. REX NE conventional oil field reserves accounts 0.02% of total remaining reserves of producing conventional oil fields globally.


About SierraCol Energy Arauca

SierraCol Energy Arauca LLC (OSierraCol Energy) is a Colombian based oil and gas company. It is involved in exploration and production of natural gas and drilling services. The company operates as a subsidiary of Occidental Petroleum Corporation. SierraCol Energy is headquartered in Bogota, Colombia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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