The company said its Boqueron prospect in Paraguay’s Hernandarias Block could hold unrisked recoverable gas resources of an estimated 559 billion cubic feet plus 302 million barrels of oil and 17 MMbbl of condensate.
The Jiaoshiba block of the project, in the municipality of Chongqing in southwest China, has 273.8 billion cubic meter (Bcm) of newly proven reserves, said the report carried on news.cnpc.com.cn, an industry portal run by top energy group CNPC.
The first zone being flow tested is the deeper High Cliff Sandstone, where a 23.5m interval has been perforated.
Gas flowed from the well at a rate of 4.32 MMcf/d on a 16/64-in. choke from a 41.3 meter interval in the Rotliegend sandstone, FX Energy said in a news release.
Petrobras operates the area with a 66% stake. Galp Energia owns 14%. Barra Energia do Brasil Petróleo e Gás and Queiroz Galvão Exploração e Produção both own 10%, Reuters said.
The well encountered a combined oil column of almost 50 m (164 ft) in two different limestone formations and flowed oil to surface during drillstem tests.
As part of the agreement, work will cover the burial and hydrocarbon expulsion history of the southern Porcupine and Goban Spur basins, with a regional top seal capacity analysis, Providence Resources said in a news release.
The company said its Antelope-4 side track appraisal well in Petroleum Retention License 15 has intersected the reservoir.
The well was drilled in the core of the area under the company's gas injection EOR project.
Cairn plans to begin a 3-D seismic acquisition program in third-quarter 2015, and core and test three appraisal and exploration wells starting in fourth-quarter 2015.
The well, which is 80 percent owned by Total and 20 percent by Denmark's state oil company Nordsofonden, confirmed the presence of gas but the thickness of the layer was smaller than expected.
The Manati Field is 45% owned by QGEP. Partners are Petrobras, Brasoil and Geopark.