Australian oil companies review Guatemala prospects
Two Australian independents are participating with Latin American Resources on oil development blocks in the South Peten basin in central Guatemala.
Recent remapping of the Atzam structure using existing data from three previous operators and incorporating reservoir data acquired since production began in December 2007 indicates the possibility of a structure of comparable size and orientation to Rubelsanto field 17 km east, said Range Resources of Sydney.
Rubelsanto is producing more than 1,000 barrels per day of oil and has recovered more than 30 million barrels from eight wells since discovery in 1976, said Citation Resources of Perth.
Source: Oil&Gas Journal