(Tecpetrol, 1.Nov.2018) — Buenos Aires-based Tecpetrol S.A. announced the following investment commitments in the areas where it operates in Argentina’s Noroeste – San Jorge and Neuquina basins.
Tecpetrol has a strong presence in Vaca Muerta area, through unconventional exploitation concessions in the areas Fortín de Piedra and Punta Senillosa, and the exploration permission in Loma Ancha area. In addition, the company operates in conventional hydrocarbon areas in Neuquina and Noroeste – San Jorge basins; main areas are Los Bastos and Agua Salada (Neuquina basin), El Tordillo (San Jorge basin) and Aguaragüe (Noroeste basin). The company also holds a stake as a non-operating partner in Ramos area in the Noroeste basin.
Commitments, as announced by Tecpetrol in a financial statement on its website include the following:
Basin: Noroeste – San Jorge
In Tordillo and La Tapera-Puesto Quiroga, the investment plan includes:
— Keeping drilling equipment active during 21 months until December 2021
— Drilling of 2 P2/P3 wells until December 2021
— Keeping 3 items of work-over equipment and 3 items of pulling (or work-over) equipment active until March 2019
In Gran Bajo Oriental, the investment plan includes:
— Investments for $13.56 million to be made until 2021 (first exploratory period)
In Aguaragüe, the investement plan includes:
— Drilling of 1 well (depending upon the results of current activities)
Basin: Neuquina
In Agua Salada, the investment plan includes:
— Exploratory and development investments for $42.9 million to be made before 2025 consisting of the drilling of 2 exploratory wells, 7 extension wells, 5 work-overs, and facilities and asset retirement obligations
In Los Bastos, the investment plan includes:
— Exploratory investments for $9.6 million to be made until 2026 outside the exploitation area
In Fortín de Piedra, the investment plan includes:
— Investments for $402.35 million to be made until 2021 within the framework of Resolution 46/2017
In Loma Ranqueles, the investment plan includes:
— Drilling and testing of 1 exploratory well with horizontal branch of 1,500 meters to be drilled before June 2020
In Los Toldos I Sur, the investment plan includes:
— Investments for $127.12 million to be made until 2022.
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