(Alliance News) - Echo Energy PLC on Tuesday said it has successfully reactivated three wells in the Chorillos field, after a dormant period of four years.
Echo Energy is a Latin America-focused energy company, currently producing from its Santa Cruz Sur project, onshore Argentina.
The well reactivation programme sought to return three candidate wells at Chorillos to production, after surface constraints sent them offline.
Recently completed infrastructure upgrades have removed prior constraints, enabling the wells to be brought back into production.
Echo Energy said that the programme has now been successfully completed, with each of the three wells now producing oil through surface lines to a field storage tank.
Tests to determine infrastructure integrity are expected to take several weeks, during which time the flow rate from the wells will be at intentionally reduced levels to enable proper analysis under production conditions.
Following successful commissioning, each well will then be independently assessed with a mobile test unit, to confirm the yet to be determined flow-potential of this cluster.
"These wells were offline at the time of and prior to Echo's acquisition of an interest in Santa Cruz Sur in 2019 and our ability to safely, and successfully, reactivate these wells back to production is a great example of the breadth of the low-risk opportunity set that exists within our assets," said Chief Executive Officer Martin Hull.
"This three well programme is in addition to the previously announced Santa Cruz Sur production and infrastructure enhancement plan and in light of the initial success, we look forward to executing similar opportunities, of which we believe there to be many, in the future."
Echo Energy shares closed 1.9% lower at 0.23 pence each in London on Tuesday.
By Holly Beveridge; Alliance News reporter
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Echo Energy (ECHO)