Tempranillo North-1 Well is located in the Township of Aipe, Huila
Ecopetrol S.A. (NYSE: EC;BVC: ECOPETROL; BVL: EC) reports it has confirmed the presence of hydrocarbons in the Tempranillo North-1 well located in the Unified Production Agreement in the Pijao-Potrerillo area, signed between Ecopetrol and the National Hydrocarbons Agency (ANH) of Colombia.
Well drilling began in the final week of October and by December 2009 had reached a total depth of 10,235 feet, equivalent to over three kilometers.
The well drilled through two layers of the Caballos Formation, where accumulations of hydrocarbons were found at three intervals. Upper layer sands revealed two intervals at depths below 8,500 feet, with a net hydrocarbon thickness of 40 feet. Lower layer sands are located below 9,700 feet and revealed a net hydrocarbon interval of 16 feet. [Read the full article]
Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE – News) today announced well results on its Criollo prospect, the anticipated spud dates of its exploratory wells on its Firefox and North Platte prospects, its 2010 capital program and the election of Jack Golden to Cobalts Board of Directors.
Cobalt today announced that it reached a planned total depth of 31,145 feet TVD in the Criollo prospect exploration sidetrack well, and is in the process of suspending operations on the well. The Green Canyon 685 #1 Sidetrack is located in approximately 4,200 feet of water. The combined cost of the original well and subsequent sidetrack were within the approved AFE.
The original well discovered 55 feet of Miocene age oil bearing reservoirs and the sidetrack logged 73 feet of Miocene oil in correlative reservoirs. [Read the full article]
Doral Energy Corp. (OTCBB:DRLY – News) (“Doral” or “the Company”), announced today that it has, with the approval of its Board of Directors, executed a letter of intent for the sale of fifty percent (50%) of Dorals interests in its oil and gas assets located in Eddy County, New Mexico to Alamo Resources, LLC (“Alamo Resources”), a private oil and gas company based in Houston, Texas. [Read the full article]
Coal producer CONSOL Energy Inc. (NYSE: CNX – News) posted earnings from continuing operations of 78 cents per share in the fourth quarter, higher than the Zacks Consensus Estimate of 74 cents but below the 97 cents reported a year ago. The better-than-expected results came on the back of increased thermal coal realizations, while the decrease versus last year was due to lower thermal coal production, lower metallurgical coal production and lower gas prices.
Net revenue in the quarter decreased marginally (by 0.47%) to $1,238.0 million compared to $1,242.7 million a year ago. The slight revenue decline in the quarter is attributed to lower sales in the metallurgical coal and gas segments, almost offset by an increase in thermal coal revenues.
CONSOL produced 0.9 million tons of metallurgical coal during the quarter versus 1.2 million tons in the year-earlier quarter. The average realized price in the quarter declined 12.0% from a year ago to $108.24 per ton. [Read the full article]