Colombian oil firm to drill as many as 100 wells in the Permian Basin
PERMIAN BASIN, Texas (KOSA) - Colombia’s state-held oil firm Ecopetrol plans to drill as many as 100 wells in the Permian Basin by the end of next year, according to OilPrice.com.
The company has a strategic alliance with Occidental Petroleum to develop acreage in the Permian.
Last year, Ecopetrol and Oxy agreed to set up the alliance to develop unconventional reservoirs in some 97,000 acres of the basin.
It already sells it’s oil to Chinese refineries – but is also looking to sell to major oil importers in Asia – specifically India and South Korea.
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