Houston-based BPZ Energy said Friday that its Corvina CX15-9D well in offshore Peru drilled dry for oil but found a gas pay zone.

The well, located in Block Z-1,was drilled to a total measured depth of 7,730 feet and encountered 35 feet of gas pay.

The gas pay zone was found in the upper Zorritos non-associated gas reservoir where three previous wells tested gas production rates between 20 and 40 million cubic feet per day in the non-associated gas reservoir.

The 9D well failed to produce oil.

Activity on the 9D well has been suspended and the well is being considered for completion as a gas producer in the future.

The company said it is reevaluating its geologic model to better understand the impact of the well test results on this area of the field.

“For the remainder of 2015, the company intends to focus on low cost workovers at the Corvina and Albacora fields at Block Z-1 to optimize production,” BPZ said.

Offshore Block Z-1 produces oil from the Corvina field at the CX-11 and CX-15 platforms as well as the Albacora field platform.

Block Z-1 production from the Corvina and Albacora fields for the first quarter of 2015 averaged 4,722 barrels of oil per day gross, or 2,408 bopd net to BPZ.

BPZ holds a 51 percent participating interest in Block Z-1.




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