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Argentina: ExxonMobil makes new shale oil and gas find in Argentina's Vaca Muerta

18 Dec 2014

Argentina: ExxonMobil makes new shale oil and gas find in Argentina's Vaca Muerta

U.S. energy super-major ExxonMobil said Thursday it has made a new shale oil and gas discovery in the massive Vaca Muerta formation in southwestern Argentina. Exxon said in a statement that it made the find with the La Invernada X-3 well, which was drilled to a depth of 4,686 meters (15,364 feet). The well, operated by ExxonMobil Exploration Argentina and drilled at the La Invernada block in the southwestern Argentine province of Neuquen, produced a flow rate of 448 barrels of oil and 1 million cubic feet of gas per day in an initial test.

'Analysis of additional information and studies is being conducted to completely evaluate the discovery,' the company said, adding that 'more wells must be drilled before decisions can be made' on commercial viability. After 60 days of output, the well has produced a total of 31,400 barrels of oil equivalent.

This latest find was made at a spot 20 kms (12 miles) from an earlier Exxon discovery, announced in May, at the Bajo del Choique block. 'This second discovery adds value to our exploration program in Vaca Muerta,' ExxonMobil Exploration Company President Stephen Greenlee said.

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Source: Fox News Latino

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