Emerald Energy has become drilling operator at Agapanto-1 exploratory well located on the Maranta Block in southwest Colombia.
La Cortez Energy holds a 20% working interest in the concession, while the rest is held by Emerald Energy.
On 9 August 2012, the well was spud and is expected to reach a total depth of 11,500ft.
Drilling was undertaken to evaluate the Villeta N, U and T sands, and will targeting the potential of the currently producing N sand.
It will also target the potential of the U and T sands, which were not properly tested in the previous wells (Mirto-1 and Mirto-2) owing to mechanical and isolation difficulties.
The well, adjacent to the existing producing Mirto structure, is the third exploration well to be drilled on the Maranta Block on the Putumayo Basin.
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By GlobalDataLa Cortez Energy said the last assignment of 20% participation interest in the block is subject to a final approval from the Agencia Nacional de Hidrocarburos (ANH).
On 12 September 2006, Emerald Energy signed an E&P contract with ANH. It previously owned 90,459 acres, however following contractual obligations it relinquished it’s acreage. Its currently stands at 45,230 acres.
