Ecopetrol S.A. (EC, ECP.TO), through its affiliate Ecopetrol America Inc., on Thursday provided the results of the Parmer Prospect, deepwater Gulf of Mexico.
The Parmer prospect #1 is located on Green Canyon 867, at a depth of 18,900 ft, which allowed for several pressure readings and the collection of several fluid samples from Miocene sands.
Ecopetrol said the data indicate a column of about 240 ft of net condensate-rich gas pay, as prospect as one of 40 ft of net oil pay.
In the coming months, Ecopetrol and its partners will reprocess 3-D seismic data and determine a comprehensive delimitation and development plan according to the results.
Ecopetrol America has a 30% interest in the Parmer Prospect. Its partners are Stone Energy Corp. (SGY), and Apache Corp. (APA) that is the prospect's operator.
The Parmer discovery is Ecopetrol's second deepwater discovery in the Gulf of Mexico.
The prospect's results are expected to assist in Ecopetrol S.A.'s strategy to attain a production level of 1.0 million clean barrels of oil equivalent a day by 2015, and 1.3 million clean barrels by 2020.
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