(Echo Energy plc, 15.Oct.2018) — Echo Energy plc announced an update on the initial perforation phase on the third Argentinian well.
The company previously drilled four wells across its onshore licences in Argentina. On 21 June 2018, the company announced that the third well in the sequence (EMS-1001 in the Fraccion C licence which reached a total depth of 2460m in the Upper Jurassic Tobifera formation) was considered potentially material and transformational. This followed initial interpretation (from the wireline logs) of an extended oil column in the Tobifera Formation.
Echo has now perforated and performed inflow tests on two representative intervals, with a view to ensuring no mobile formation water presence prior to rigless mechanical stimulation of the well (the standard technique in this basin).
The results of the inflow tests confirm intervals are suitable for mechanical stimulation.
The rig is now off contract and has been demobilised following completion of all anticipated rig based activities. Once design and planning is complete Echo expects to return to EMS-1001 and co-ordinate activity with planned stimulation of the ELM-1004 anticipated to commence by year-end.
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Energy Analytics Institute (EAI): #LatAmNRG