Echo Energy plc, the Latin American targeted upstream oil and gasoline firm, is happy to announce the mobilization of the rig for a 3 nicely workover marketing campaign on the Company's Fracción D asset, onshore Argentina.
The Quintana-01 rig, on contract to Compañía General de Combustibles S.A., the Company's Argentinian companion, has been mobilized from the west of the Austral basin and can journey roughly 250 km by street to Fracción D within the east of the Austral basin. Mobilization is anticipated to take roughly three days after which the rig-based actions on three chosen present wells will start.
For every of the workovers, the rig workover program consists of abandoning the beforehand producing, however now suspended, oil zones after which finishing the found however uncompleted gasoline zones throughout the Springhill formation. Each rig operation is anticipated to take as much as 10 days, following which every nicely can be placed on an prolonged nicely check to acquire additional knowledge on the present gasoline volumes previous to any sanction of a industrial improvement, which would come with the development of a 28-km pipeline. Testing of every nicely is anticipated to take a most of 30 days, together with flowing and shut in durations to find out reservoir pressures, linked volumes and movement charges. The complete value of the rig operations and testing is roughly $zero.55 million per nicely.
The Company will present market updates, as acceptable, because the workover programme advances.
Please depart feedback and suggestions beneath