Juniors terminate Peru exploration contracts

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Thursday, January 22, 2015

Two companies terminated exploration contracts in Peru due to poor drilling results.

The contracts are for blocks 138 and XXV held by Pacific Stratus Energy and Vetra Perú, respectively, according to hydrocarbons licensing authority Perupetro.

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The juniors reported negative results from block 138 well Yahuish 1X and block XXV wells Vicente 1X and Valeria 1X.

Block 138 covers 414,220ha in the central Amazon region and block XXV spans 40,451ha in the northwest of the country.

Also from Peru, BPZ Energy provided initial production rates from the Albacora A-27D development well at offshore block Z-1.

Output last month of crude, NGLs and natural gas averaged 67,010b/d, 107,120b/d and 36.9Mm3/d, respectively.