News listings

energy-pedia development and production

Argentina flagArgentina

South America / GoM >>> Argentina

Argentina: President Energy commences work programme on recently acquired Puesto Flores and Estancia Vieja assets

09 Oct 2017

Photo - see caption

AIM-listed President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided an update on its recently acquired oil producing assets at Puesto Flores and Estancia Vieja in the prolific Neuquén Basin situated in the Rio Negro Province, Argentina. 


  • Initial work programme to commence in the next month through to the end of the year, funded out of existing cash flow
  • Plan comprises of the workover of three firm wells and two additional contingent wells
  • Of the five wells, four were shut in prior to President's acquisition 
  • Objective of the work is to bring back into production the wells and test by-passed intervals which during original drilling demonstrated evidence of hydrocarbons   
Photo - see caption

Peter Levine, Chairman and Chief Executive, commented:

'We are hitting the ground running at Puesto Flores following our acquisition of these oil producing assets less than three weeks ago, on 20 September 2017. This initial work is an important first step in what will be an increasingly intensive programme running through 2018 led by President’s in-country team with extensive experience of the Concession as we explore multiple opportunities to grow production.'  

Q4 2017 work programme

President will shortly commence its initial work programme at the Puesto Flores Field at the Concession. Work will continue from November through to the end of the year and will consist of three firm well workovers with another two wells contingent.  

All bar one of these wells have been shut in for some time and the objective of the work is to bring the wells back into production and in addition in certain wells open a number of previously unperforated and untested by-passed intervals which during original drilling demonstrated fresh oil shows and bright fluorescence in the cuttings.   

This capital expenditure will be funded out of cash flow and the wells, being served by electrical submersible pumps from the main power grid, will be capable of being placed on production at the end of the year should work be successful.  

The programme is a first step to what will be an increasingly intensive programme running through 2018 which is slated to include multi-workovers, re-completions and drilling.

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.

Publicly Available Deals

See all deals...

Subscriber Only Deals

Current deals: 1654
Completed deals: 4936

Company Profiles

Current Company Profiles: 2584

Corporate Activity

Current Corporate Activity articles: 3090

Companies Looking

Current number of articles: 420

Company Sales

Current Company Sales articles:1251


Current Geostudies articles: 579

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

RSK Logo 149
Rose & Assocs 149
KL Publishing
Government of South Australia
SLR Consulting logo
EP Consult Energies
Lynx Information Systems
count geophysics
Union Jack Oil 149
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