ConocoPhillips’s Interest in Colombia

(Energy Analytics Institute, Aaron Simonsky, 25.Apr.2018) — ConocoPhillips is active in Colombia in the Middle Magdalena Basin at VMM-3 and VMM-2, where it serves as operator at both blocks, the company reported in a Fact Sheet updated on its website in March 2018. A short summary of its Colombian interests follows:

— VMM-3: Partners in the block include ConocoPhillips (WI 80.0%, Operator) and CNE Oil & Gas S.A. (WI 20.0%)

In 2015, ConocoPhillips assumed operatorship of the VMM-3 Block, which extends over approximately 67,000 net acres. The block contains the Picoplata 1 Well, which was drilled in 2014 and 2015. In 2016 and 2017, ConocoPhillips conducted production testing operations at the Picoplata 1 Well and is continuing its evaluation of the block.

— VMM-2: Partners in the block include: ConocoPhillips (WI 80.0%, Operator) and Canacol Energy Colombia S.A. (WI 20.0%)

In 2017, ConocoPhillips acquired interest and operatorship of the VMM-2 Block, which extends over approximately 58,000 net acres and is contiguous to the VMM-3 Block. ConocoPhillips is currently undergoing an environmental impact study of the block.
***