19th May 2014 11:42
LONDON (Alliance News) - Global Energy Development PLC said Monday that the rig mobilisation has commenced to the Catalina #1 well in its Bolivar Association Contract in the Magdalena Valley in Colombia.
The Latin America-focused petroleum exploration, development and production company said the workover rig is being transferred from the central Magdalena Valley area and the rigging up of all existing equipment is expected to be completed over a seven day period.
Key new equipment is expected to be ready for shipment to Colombia from Houston, USA shortly, said the firm.
The transferral process involves the removal of existing production equipment from the wellbore and the installation of surface pressure control equipment and production tubing suitable for use in high pressure operating conditions, after which the workover rig will then be demobilised and removed from the location.
Once the surface equipment is installed and pressure tested, Global Energy said it will proceed with stimulation test of the Simiti, with initial testing results expected in July.
"The Simiti test is focused on conventional sandstone sections that are known to be productive producers to the south of our Bolivar Block acreage. The Company is hopeful that with modern stimulation techniques, the flow rates achieved nearby in the same formation can be enhanced in our Catalina 1 well-Simiti Test," said the firm's Managing Director, Stephen Voss.
Shares in Global Energy Development were trading 1.52% higher at 73.60 pence per share Monday afternoon.
By Alice Attwood; [email protected]; @AliceAtAlliance
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