CMS Energy Corporation Announces Successful Completion of Development Well in Colombia

Strategic Insights -

CMS Energy Corporation's oil and gas exploration and production unit, CMS Oil and Gas Company, has successfully completed a development well, Venganza #6H, in the Guadalupe Formation of Colombia's Matachin Norte Field. The well, which was drilled horizontally, is currently producing 4,705 barrels of oil per day and 44 barrels of water per day. This achievement marks a significant milestone in the Espinal Block, where total production has increased to 12,000 barrels of oil per day.

Key Takeaways:

  • CMS Oil and Gas Company, a unit of CMS Energy Corporation, has completed a development well, Venganza #6H, in Colombia's Matachin Norte Field.
  • The horizontally-drilled well is producing 4,705 barrels of oil per day and 44 barrels of water per day.
  • Total production for the Espinal Block, in which CMS Oil and Gas Company has a 15 percent working interest, has increased to 12,000 barrels of oil per day.
  • The successful completion of Venganza #6H follows the testing of Venganza #4H, which achieved an initial flow rate of over 7,000 barrels of oil per day.
  • CMS Oil and Gas Company is among America's 50 largest independent oil and gas companies in production and reserves.
  • The company has proven reserves of 248 million net equivalent barrels as of year-end 1999.
  • CMS Oil and Gas Company is engaged in exploration and/or production in twelve states and internationally in eight countries.
  • CMS Energy Corporation has annual sales of more than $6 billion and assets of about $15 billion throughout the U.S. and around the world.

Statistics:

  • Initial flow rate of Venganza #6H: 4,705 barrels of oil per day
  • Water production of Venganza #6H: 44 barrels per day
  • Total production of Espinal Block: 12,000 barrels of oil per day
  • Proven reserves of CMS Oil and Gas Company: 248 million net equivalent barrels (as of year-end 1999)
  • Number of states in which CMS Oil and Gas Company is engaged in exploration and/or production: 12
  • Number of countries in which CMS Oil and Gas Company is engaged in exploration and/or production: 8
  • Annual sales of CMS Energy Corporation: more than $6 billion
  • Assets of CMS Energy Corporation: about $15 billion

Sources:

  • CMS Energy Corporation press release, "CMS Energy Corporation's Oil and Gas Unit Announces Successful Completion of Development Well in Colombia" (June 20)
  • CMS Energy Corporation website, www.cmsenergy.com.