NG Energy makes Colombia gas find

Canada's NG Energy has announced a new hydrocarbons discovery at its Aruchara area in northern Colombia. 

The company encountered 570ft (174m) of net gas pay while drilling the Aruchara-3 well to a total depth of 9,050ft, it said in a statement on Monday. 

The new zone, which formed phase 2 of the well's exploration program, was identified between 6,000 and 7,500 feet.

Some 150ft of net gas pay was also logged in phase 3 of the campaign, which also reached a depth of 9,050ft. 

NG Energy said it would start analyzing all potential production zones with drill stem tests (DSTs) before deciding upon the next steps in their development. 

"The potential magnitude of this possible finding could redefine our expectations of the full block potential at Maria Conchita," CEO Serafino Iacono said. 

"Our drilling and technical team have done a remarkable job under extremely hot conditions and working around the clock given these gas encounters. The company looks forward to providing further updates on DST testing in the coming two weeks."

NG Energy holds an 80% working interest in the Maria Conchita block in the La Guajira basin.