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Echo Energy upbeat on latest progress at Fraccion D
Latin America-focussed upstream oil and gas company Echo Energy announced gas to surface on the first well of its three-well workover campaign at its Fracción D asset, onshore Argentina on Friday.
The AIM-traded firm said well CSo-85 was perforated across the Springhill formation, and successfully flowed gas to surface without intervention, following which the well flowed through the rig degassing system at an estimated rate of 2 mmscfd through a 20/64" choke, with a tubing head pressure of 1,100 psi.
It explained that the full testing unit was expected on site in 10-14 days, at which stage a multi-rate, extended flow and build-up test would be undertaken.
The Quintana-01 rig would shortly be moving to well CSo-80 to commence workover operations at the weekend.
Echo said it would provide market updates, as appropriate, as the workover programme advanced.
"We are delighted that the first step of this exciting workover campaign has been safely and successfully completed, re-entering the well and establishing gas flow to the wellhead without any requirement for artificial lift," said CEO Fiona MacAulay.
"Once the full testing unit is in place we will analyse the well performance during the scheduled long term test."
MacAulay said that, in the current fast moving operational phase, the Quintana-01 rig would be moved directly to the second well in the workover campaign to complete and perforate a similar gas zone.
"We will update the market as the programme continues and also look forward to welcoming shareholders at our next regional event in Newcastle on 24 April."
The company said it considered the initial gas flows to be a positive initial indication, but cautioned that they should not be considered conclusive until the extended flow and build-up test was complete.
Post test flow rates could be higher or lower than those initially achieved, the board added.