Papers - Production - Foreign - Petroleum Development in Columbia during 1940

Production in Colombia attained a new high during 1940 when it reached a total of 25,607,976 bbl. Of this amount, the Tropical Oil Co. produced 21;426,492 bbl., including 268,586 bbl. of petroleum condensate, and the Cololmbian Petroleum Co. produced 4,181,484 bbl. from its Barco property. The wildcatting program of different companies in the Magdalena Valley that was initiated during the previous year was continued but with results that were decidedly disappointing. Ten wells were drilled in the Magdalena Valley between the approximate latitudes of Puerto Wilches and Puerto Berrio and nine of these were dry; the tenth was a small producer of no commercial importance. The prospects of finding new fields in the Magdalena Valley thus received a serious setback, since some of the tests drilled were on well developed surface structures. The prospects of the Valley, however, have by no means been exhausted and drilling operations are being continued on other prospects. One additional wildcat was drilled outside the Magdalena Valley on the Colombian Petroleum Company's Barco Concession, which brought to 11 the total number of wildcats drilled in Colom-bia during the year. This well, known as