Ecopetrol announces new oil finding at Cundinamarca, Colombia

7/6/2018

BOGOTA, Colombia - Ecopetrol reports that Búfalo-1 well confirmed the presence of oil in the Valle Medio del Magdalena, located near the town of Guaduas, Department of Cundinamarca.

The finding recorded a depth of 1,153 m, in the Middle Magdalena Valley basin, where the presence of dry gas and light crudes was evident in the Grupo Honda.

Bufalo-1 is operated by Ecopetrol, who holds a 51% stake, and its partner PVEN E&P Corp, who holds a 49% interest. The well is the first discovery in the VMM32 exploration contract.

The drilling works complied with environmental requirements, there were zero accidents and the works were in complete harmony with the communities in the area.

The Bufalo-1 well is located very close to Ecopetrol's transport infrastructure, which could facilitate its commercial production stage.

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