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BNamericas

Petroecuador brings ACAL245HUI well online in Auca block, targets USD 5.2mn in monthly state revenue

AI Market Summary
Petroecuador brought a new Auca block well online at 3,181 bpd and outlined additional near-term uplift via planned hydraulic fractures, modestly increasing Ecuador's medium-heavy crude output and state revenue. While small versus global supply, the news is marginally supply-additive for crude markets, slightly pressuring the balance at the margin and reinforcing steady LATAM production trends.
Impact level
● Low
Affected assets
NCCO1OILWTI2USD/USDT+5.42%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▼ Bearish
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Ecuador’s state oil company Petroecuador has started operations at the ACAL-245HUI well in the Auca block, producing 3,181 barrels of crude per day. The company estimates the output will add USD 5.2 million (mn) in monthly income for the Ecuadorian State. The well produces 17.6 API crude and uses an electric submersible pump system. Auca is currently producing 64,000 barrels per day, and three planned hydraulic fractures are expected to lift output by about 1,200 barrels per day.
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