Ecopetrol reports deepwater discovery in U.S. Gulf

9/11/2012

Ecopetrol reports deepwater discovery in U.S. Gulf

HOUSTON -- Ecopetrol S.A, through its affiliate Ecopetrol America Inc., provided the results of the Parmer Prospect in the deepwater Gulf of Mexico.

The Parmer prospect #1 is located on Green Canyon 867, at a depth of 18,900 ft (5,760 m), which allowed for several pressure readings and the collection of several fluid samples from Miocene sands. The data indicate a column of approximately 240 ft (73 m) of net condensate-rich gas pay and about 40 ft  (12 m) 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 these results.

The two Parmer leases (GC 823 and GC 867) are located within the Green Canyon protraction area, at a water depth of about 4,200 ft (1,280 m). Each covers an area of 5,760 acres (23.3 sq km) and is located about 143 miles (230 km) offshore Louisiana.

Ecopetrol America has a 30% interest in the Parmer Prospect. Its partners are Stone Energy, and Apache (operator).

The Parmer discovery is Ecopetrol´s second deepwater discovery in the Gulf of Mexico.

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