Petroecuador Lobo Field Reaches 2,300 bpd After 20-Year Drilling Gap

Petroecuador restarted drilling activity at the Lobo field in Block 7, Orellana, after more than 20 years without new wells.

The field initially produced close to 500 barrels per day. Through reconditioning work and hydraulic fracturing in existing wells, production rose to more than 2,000 barrels per day and reached a first-half 2026 peak of 2,300 barrels per day.

Incremental Revenue

The second drilled well reached an individual peak of 900 barrels per day.

The sustained increase of 1,500 barrels per day represents estimated state revenue of more than USD 4 million per month and close to USD 49 million per year.

Petroecuador said the field reactivation also generates local employment and demand for goods and services in the area of influence.

Mature-Field Strategy

The Lobo work is part of Petroecuador's broader strategy to recover mature fields. Since May 1, 2026, the company has reported multiple activities intended to increase oil production.

The Lobo result is relevant because Ecuador's fiscal and fuel-import position remains sensitive to state oil output, especially when mature fields require workover, drilling or enhanced-recovery activity to stabilize production.

What to watch

• Whether Lobo production remains above 2,000 barrels per day after the first-half peak.
• Whether the 1,500 bpd incremental gain is sustained long enough to support the USD 49 million annualized revenue estimate.
• Whether Petroecuador replicates the Lobo workover and drilling approach in other mature fields.
• Whether local contracting activity expands around the Block 7 area.