US-based oil and gas company PetroTal has completed its third horizontal well 6H in the Bretana oil field located in block 95 in north-east Peru.
The well, which reached target Vivian formation at the estimated vertical depth of 2,698m, was drilled to the west of 5H, slightly downdip of the crest of the structure. The Bretana oil field is currently producing 5,750 barrels of oil per day (bopd).
In a press statement, PetroTal said: “The 1,178m horizontal section inside the main productive oil reservoir makes the 6H well the longest horizontal well drilled to date in Peru.”
The 6H well has been completed using autonomous inflow control device (AICD) valves to maximise oil production.
PetroTal president and CEO Manolo Zuniga said: “PetroTal is pleased to announce another strong drilling result, with 6H being our third horizontal well drilled on time and under budget.
“The 6H well complements the performance of the 4H and 5H wells, and over the next few months, PetroTal will focus on optimizing production from our seven producing oil wells and preserving the Company’s capital position.
“PetroTal is fortunate to have loyal and understanding partners amongst its many contractors and related Peruvian government ministries and agencies and we are pleased to have already achieved an increase in netbacks to $12 a barrel.”
During the first 10 days of production, 6H well has achieved an average oil production of approximately 4,500 bopd.
PetroTal commissions Bretaña central production facilities
PetroTal has also commissioned the enhanced Bretaña central production facilities (CPF‐1), increasing the overall oil production capacity to between 16,000 bopd and 18,000 bopd.
The firm, however, is planning to defer the completion of the CPF-2 facilities to reduce its overall 2020 capital expenditure budget by 33% to $66m.
PetroTal completed its second horizontal well, 5H well in the Bretaña field in December 2019.
