Tecpetrol Reports Increased Argentine Gas Production
Oil and gas producer Tecpetrol said March 24 its production at its Fortin de Piedra project in Argentina reached 17.5mn m3/day in February 2019.
“In just 18 months, we have managed to reach this production level with 62 active wells in Vaca Muerta,” Tecpetrol said in a social media post. “This is equivalent to 12% of the daily gas consumption in Argentina.”
Based on the results, the company’s unconventional shale gas production at the project is up 17% compared to 15mn m3/day in November 2018, and up 59% compared to 11mn m3/day in August 2018. The company had originally aimed to reach the 15mn m3/day mark in early 2019.
Tecpetrol, which has a 200,000-acre position in non-conventional areas in Argentina, has committed investments of US$2.3bn until the end of 2019 at the Fortin de Piedra field to develop the Vaca Muerta shale play.