Echo Strikes More Argentine Gas

Echo Energy has found gas with the ELM-1004 exploration well onshore Argentina, at the Fraccion C asset, it said May 18: this is the first well in its four-well exploration campaign.

The well went 1,760 metres deep into the Lower Tobifera formation and found over 40 metres of gas shows which analysis puts at around 14.5 metres of net pay within the section. That is towards the upper end of the range and encouraging from a volumetric and value perspective, it said.  The completion rig is due next month, at which point the well will be tested to determine deliverability of the reservoir. The rig will move directly to the second prospect in the four well exploration progamme, Los Alamos x-1 (ELA-1).

CEO Fiona MacAulay said the company was "very excited to have confirmed the presence of a substantial gas column in this first well of our four well exploration programme." It looks forward to the arrival of the completion rig and subsequent testing in June, and to spudding ELA-1 in the next few days. Echo farmed into the onshore Argentina assets in late 2017.