OSAGE EXPLORATION AND DEVELOPMENT INC. : http://www.osageexploration.com/ : QwikReport
Guaduas Field - Central Colombia
The Guaduas Field
In April 2008, Osage Exploration and Development, Inc. acquired a 9.4% working interest in the 30,665 acre Guaduas Field in partnership with Pacific Rubiales Energy by buying the Cimarrona LLC. This working interest also includes a 9.4% interest in the Guaduas-La Dorada crude oil pipeline.
Pacific Rubiales owns 90.6% and is the Operator of the Field. The Field is currently making approximately 900 barrels of oil per day, gross.
There is natural gas that is also produced at the Guaduas which is currently being reinjected back into the formation to maintain pressure. Pacific Rubiales has discussed the possibility of marketing some part of the gas production in the future as an additional revenue source
There is potential for additional development of the Field, although there are no plans in 2009 to do so
The Guaduas Pipeline
The pipeline has a capacity of 38,000 barrels a day and connects the Guaduas Field to La Dorada where the main pipeline then runs to Covenas in the North.
Pacific Rubiales is using the pipeline to transport their heavy crude that is trucked to Guaduas from the Rubiales Field, and then blended with the Guaduas crude.
Pacific Rubiales also buys additional local crude to blend with their heavy crude which has created an additional demand for transportation via the pipeline.
In total, the Guaduas-La Dorada pipeline transports about 5% of all crude produced in Colombia on a daily basis. Source: ANH website