11th Jun 2014 10:51
LONDON (Alliance News) - Global Energy Development PLC Wednesday said it has completed all the subsurface pre-stimulation operations on the Catalina #1 wellbore in its Bolivar Association Contract Area in South America and will shortly commence the surface stimulation operations on the well.
The company's Bolivar Association Contract Area is located in the northern section of the Magdalena Valley in Colombia, South America.
In a statement Wednesday, the Latin America-focused petroleum exploration, development and production company said it is pleased with the progress made to date in completing all subsurface well preparation actions necessary for stimulation of the Simiti formation to proceed shortly.
"All necessary surface equipment including a high-volume test manifold, separators and hydraulic fracturing pumps are now being installed in and around the Catalina #1 wellbore in preparation for the stimulation of the well," said Managing Director Steve Voss.
Global Energy Development shares were trading at 74.25 pence Wednesday morning, down 1.0%.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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