Echo Energy Plc has commenced drilling on its first exploration well in a four well back-to-back campaign in the company’s Fracción C asset, onshore Argentina, the company said on May 9.
The Petreven H-205 rig, on contract to Echo’s joint venture partner Compañía General de Combustibles SA, has arrived on the Estancia La Maggie prospect and on May 8 spudded the company’s first exploration well ELM-1004.
The well targets the crest of a structure at the Upper and Middle Tobífera levels with Pmean gross gas initially in place estimated as 38 billion cubic feet. Well ELM-1004 is located approximately 4 km (2 miles) north east of the existing Estancia La Maggie gas collection facilities.
In addition, on the company’s Fracción D asset, the extended flow period of the CSo-85 well test has now been successfully completed and the well has been shut in for the planned pressure build up.
“We are delighted to be starting our exciting four well exploration campaign shortly after the successful workover well campaign in Fracción D,” Fiona MacAulay, Echo’s CEO, said. “A presentation with further details on the exploration well location and target structure will be uploaded to the company website shortly.”
The company will update shareholders with progress on both the exploration drilling program and extended testing as the program advances.
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