News listings

energy-pedia development and production

Argentina flagArgentina

South America / GoM >>> Argentina

Argentina: President Energy announces operational update

15 Sep 2020

Photo - see caption

AIM-listed President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina has provided an operational update in relation to its current Rio Negro operations in the Estancia Vieja and Puesto Flores fields.

Workover Programme

The operational testing of EVx-1 has now concluded.

The flow rates and pressure build up support the initial testing results and that this has proved to be excellent value for the US$250k expended in working over an old, uneconomic well. The well tested on various choke sizes from 4mm to 12mm for 12 hours each with similar pressure build up tests at 12 hour intervals. Throughout, the well maintained good pressure with production rates ranging from 25,000m3/d up to 150,000m3/d of gas with a small amount of condensate. For good reservoir management, subject to the definitive data results, it is expected that the well will be put on stream initially producing approximately 80,000m3/d of gas (+/-470 boepd). The data obtained from the testing is now being analysed to determine the producible volume of the reservoir and its characteristics.

The Company looks forward to seeing the contribution in production from this well from October.

The order in respect of the second well in the workover sequence was changed due to logistics. This well, the old PFO-33, has been turned into a water disposal well replacing a previous disposal well PFO-17 which ceased to be operable some three months ago. PFO-33 is now capable of disposing of 400m3/d of water thereby saving on third party costs which have been incurred since the previous well ceased to inject. The workover of this well has been completed ahead of time and like EVx-1, under budget.

After completing the workover of PFO-33, the rig then moved on to the oil producer PFE-1001 to replace an electric submersible pump which had failed approximately two months ago and then put the well back on production. That operation is now nearly completed and has gone according to plan. The well should be back online in the next 7-10 days.

The rig will then move on to the next wells in the sequence which will include the well EV-20 referred to in the Company's announcement of 13 July 2020. Further details of progress on the programme will be announced at relevant times.

Photo - see caption

Drilling programme

The drilling rig is now expected to start mobilising during the course of this week for drilling operations to commence on schedule before the end of September.

As previously announced, the first well will be the Las Bases 1001 development well targeting attic gas in the Las Bases structure, a P50 well rate of 100,000 m3/day (588 boepd) of gas and 6 Bcf of recoverable gas with a target depth of 1,700 metres and a high chance of success.

Estimated costs to completion are US$1.9 million with drilling time, excluding completion and tie-in, of approx. 21 days. As the well is in close proximity to existing infrastructure, on a success case the well should be in production at some stage during November.

Original article link

Source: President Energy

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 363

Completed Deals

Completed Upstream Deals: 5791

Company Profiles

Current Company Profiles: 2737

Corporate Activity

Current Corporate Activity articles: 3541

Companies Looking

Current number of articles: 442

Company Sales

Current Company Sales articles:1438


Current Geostudies articles: 754

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Union Jack Oil 149
Rose & Assocs 149
KL Publishing
Government of South Australia
SLR Consulting logo
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675