With testing completed, Parex Resources Inc. announced its abandonment of its 100%-owned Chirimoya exploration well at VIM-431 in Colombia.

As previously announced, Parex reached the Chirimoya exploration wells’ target depth of approximately 17,500 ft. Following open hole evaluation and logging operations, the decision was made to case and test the well. All three prospective zones were evaluated and confirmed that the potential reservoirs had no economic hydrocarbons.

The Chirimoya exploration well was the first prospect in a three well, high-impact exploration program conducted this year. The Northern Llanos Arauca-8 well at Arauca and the Llanos Foothills Arantes-1 well at LLA-122 are expected to be spud in fourth quarter 2023. Parex has a 50% working interest in both wells.

Headquartered in Calgary, Canada, Parex is the largest independent oil and gas company in Colombia and operates out of an office in Bogotá, Colombia. The company will release its second quarter results for 2023 as well as provide an operational update post-market on Aug. 2.