This information is available only to subscribers.
Start a free trial, to unlock the full potential of a subscription to BNamericas.
Already a subscriber? Please, login.

La Maye Block

Project Stages

The development stages in the projects are displayed in the standard sequence for the industry. However, projects may be developed in a different sequence because of corporate decisions or events that push the owner to repeat stages. To access the full details of this project’s history please explore its milestones


Early Works
Current Stage: Seismic
In Construction
Operation
Project Details

Description

The La Maye Block is located in Colombia's Lower Magdalena Valley basin and consists of 68,303 gross acres. New Horizon Exploration Inc., its operator, currently owns a 30% interest in the block, and Petrodorado has a 20% interest. On April 25, 2008 Petro Vista Energy (PVE) entered into a Letter of Intent with the operator to earn a 25% working interest in the La Maye Block. Then, on May 15, 2012, Deep Core Inc., a wholly-owned subsidiary of Heavy Earth Resources, Inc. acquired Petro Vista Energy's 25% share. On December 27, 2013, Heavy Earth announced the purchase of 100% of the equity of New Horizon Exploration. Heavy Earth assumed operatorship of the La Maye Block through its subsidiary, Deep Core, while increasing its working interest in the block to 38%.

The Noelia-1 well was drilled in October 2009 with operations subsequently being suspended due to flooding conditions. In January 2014, New Horizon Exploration Inc. informed the ANH that the Noelia-1 well did not encounter commercial quantities of hydrocarbons and that no further testing would be performed going forward. In September 2014, the La Maye JV partners received approval from the ANH to move forward with a seismic program, which was approved as the new Phase II ANH commitment in place of the original commitment to drill a second exploration well. Currently, there are concerns related to the risks surrounding the potential performance of the operator in fulfilling the existing work commitments on the La Maye Block and the possible consequences for non-compliance with stipulated work obligations. By June 2015, ANH reported that the contract is being evaluated due to non-compliance.

Only BNamericas Subscribers Can Access This Information.
Subscribe to BNamericas to gain better insight into project development and contract opportunities in Latin America.
  • Early-stage and under-development projects throughout the region
  • Project coverage focused on biggest investments in each country and sector
  • Project milestones highlighting planned and unplanned developments
  • Sales contacts within operators and contracted companies
  • Access to experienced research staff
  • Risk analysis of cost increases, scheduling conflicts and regulatory environment
Already a subscriber? Please, login

Milestones Log and News


Related Companies

Name Sector Country Relation
Locked content
Project Owners
Locked content
Concessionaire/operator
Locked content
Concessionaire/operator
Locked content
Regulator
Dear visitor, this table includes insights that is only available for subscribers

  • * Figures and dates are as per the latest publicly available information, as well as information gathered by BNamericas reporters and analysts and are subject to change.

  • * Changes to original budget estimates are shown as the total figure available and may include interest, working capital, inflation adjustments and other contingencies in addition to capital expenditure.

  • * Amounts and overall results are shown in US dollars unless otherwise stated.

  • * BNamericas does not guarantee the sequence, accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. There are no express or implied warranties. In no event shall BNamericas, its agents, directors, officers, employees, representatives, successors, and assigns be liable for any damages of any nature in connection with BNamericas content.


Key Specs

Full Name
La Maye Block
Project Type
Exploration, Onshore, Upstream
Development Phase
Seismic
Project Status
Active
Project Capacity
 Exploration
 Onshore
 Upstream
Location

The La Maye block is located in the municipality of Mompós in Bolivar department.

* The map coordinates represent the approximate latitude and longitude, and not the exact location of the project.


Locked content
Owner / operator
Locked content
Country Manager Colombia & Peru
Locked content
Vice President Exploration (Bogota)
Locked content
Chief Geoscientist
Dear visitor, this table includes insights that is only available for subscribers