Colombia has attracted the attention of small and medium-sized energy companies as well as the industry's major international players.
Colombia's Magdalena Basin has attracted the attention of small and medium-sized energy companies as well as the industry's major international players.
Sintana has varied interests in two projects with over 190,000 gross acres in the Magdalena Basins. In November 2012, the Company announced a milestone Farm-out Agreement with ExxonMobil to explore the Unconventional potential of the VMM-37 property located in the Middle Magdalena Basin.
The Middle Magdalena Basin is one of the most explored basins of Colombia with discoveries mainly in the Paleogene section. A century of exploration history in the basin has led to the discovery of approximately 1,900 MMBO, 2.5 TCF of natural gas and a total of 41 fields, including Colombia's first field, La Cira-Infantas (discovered in 1918), with well over 900 MMBO of recoverable reserves to date and still under production. The thick Cretaceous section of 4,000 to over 8,000 feet has long been recognized as one of the world's most important source rocks but the absence of conventional reservoirs has discouraged exploration. With the advent of the unconventional plays, this outlook has changed substantially in that these same kerogen-rich intervals appear to be ideal for unconventional potential.
|VMM-4||Middle Magdalena||15%||LOH Energy||155|