Announcing the first crude oil discovery in a 100%-owned well since the beginning of 2013, Colombian oil driller Ecopetrol (NYSE: EC ) yesterday reportedinitial tests�yielded an�average crude oil production of 202 barrels of oil per day.
The�Pastinaca 1 is an exploratory well located within the municipality of�Puerto Lopez�,�Meta Province, Colombia, and�is part of the CPO-10 exploration and production agreement signed by Ecopetrol and the National Hydrocarbons Agency on Dec. 18.�
The test proving the existence of hydrocarbons used�an electro-submersible artificial lift and yielded�11.7�degrees�API (heavy crude) and a water cut of 80%, according to the company.�With accumulated production to date of more than 1,448 barrels of oil, Ecopetrol plans to continue its exploratory activities on block CPO-10 in the months to come. �
Ecopetrol is one of the 50 largest oil companies in the world.
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