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Toronto-based company Sintana Energy has been informed that drilling operations have begun on its Manati Blanco-1 well, the company announced in a release.
The Manati Blanco-1 drilling program will require a vertical well, to be drilled using a Parker Rig 271 and which is projected to reach the top of the Lower Tertiary Wedge formation at 8,000-9,000 feet.
"The commencement of drilling operations at VMM-37 is a major milestone for the company and its shareholders. The potential presence of volumes of movable oil in one or more of the Manati Blanco-1 target formations would substantially increase the value creation potential of our exploration program" company CEO Doug Manner said.
Sintana announced a farm-out to ExxonMobil in the phase I exploration and phase II development programs in the VMM-37 block.
In February, the company said there are between 4bn 8.3bn and barrels of potential YTF (yet-to-find) oil in Colombia's Middle Magdalena basin.