Andes Energia Increases Production at Chachahuen Oil Block, Argentina
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Oil producer Andes Energia has lifted production at the Chachahuen block in Mendoza, Argentina, and continues to find positive leads there.
Output has been increased by around 1,469 bpd (barrels per day), with 293 net to Andes after 26 new wells have been completed since the end of June last year.
There are now 97 wells on stream producing around 5,989pd (with 1,197 bpd net to Andes). The operator of the block is YPF.
Andes chairman Nicolas Mallo Huergo said: “Chachahuen has proven to be a high quality oil asset characterized by a significant ongoing development plan with excellent exploratory results to date with new prospects and leads identified encouraging us to continue with this exploration and development program.
“The excellent results to date are an important step towards understanding and untapping the overall potential and commerciality of the block.”
The oiler added that an ongoing water flood project had increased the average rate of injection from 1,800 bpd to 3,600 bpd through 17 injection wells increasing the recovery rate.
In exploration, two seismic programs have been completed covering 552 km² of 3D on the Chachahuen Sur exploration block and the Chachahuen development block and 267 km of 2D seismic on the Chachahuen Centro block.
Preliminary analysis of 3D data has identified the “LaOrx-1” prospect targeting the Centenario , Mulichinco and deeper Tordillo formations and two exploration wells have been spudded - one on the Chachahuen Sur evaluation block, the
Source: (January 25, 2016) Proactive Investors
About Andes Energia
Andes Energia is a Latin American group, active in exploration, development and production of Oil and Gas from conventional and unconventional resources. The total consolidated acreage of Andes’ assets is 7.4 million acres of exploration with 20 MMbbl reserves and 596.13 MMbbl of prospective resources. Listed on AIM London Stock Exchange and Buenos Aires Stock Exchange, Andes combines a highly qualified E&P professional team with world class exploration and development assets.
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