Petrominerales Ltd. reports that its third well in the Llanos Basin Candelilla structure has seen initial production of a prolific 15,600 barrels a day, the company said Monday.
The new results boost the total production of the three Candelilla wells to 38,700 barrels per day and the total Petrominerales production to more than 53,000 barrels per day, according to Oilweek.
The new Candelilla-3 well has been allowed to flow at full rates as Candelilla-1 has been temporarily restricted.
The Candelilla wells are limited to around 50,000 barrels a day at the moment due to interim restraints.
“Once the required regulatory approvals have been obtained, we will tie-in the Candelilla project to our Corcel central processing facility. The tie-in to Corcel is expected to be completed by the end of the second quarter,” Petrominerales said Monday.
Petrominerales has fourteen exploration blocks in the Llanos and Putamayo Basins and in 2009 saw a 60% increase in production compared with the previous year.