Ecopetrol has confirmed a new oil discovery in the Putumayo province in Colombia with its Alqamari-2 test. The well was drilled to a total depth of 9,287 ft and resulted in a daily flow of 1,800 bbl of light oil, according to the operator.
The discovery in Putumayo benefits from its location close to producing oil fields and could take advantage of existing infrastructure, according to Ecopetrol. Alqamari-2 marks a significant turning point in the area’s exploration, with the company adding the resources could quickly be converted to reserves.
The find comes shortly after Ecopetrol reported a 61% fall in second-quarter net profit, mirroring similar performances of regional peers Pemex and Petrobras amid lower oil prices.
In May, Ecopetrol and Repsol found oil and gas at the Tinamú-1 exploration well in Castilla la Nueva (Meta) municipality.
The Tinamú-1 well produced a total of 7,329 bbl of 16 °API heavy crude during the initial tests.