LONDON (Alliance News) - Latin America-focused oil and gas company Echo Energy PLC said Monday that it has completed the second workover of the well workover campaign on its Fraccion D asset, onshore Argentina.
Well CSo-80 has been plugged back across the C3 interval and perforated in the more shallow C1 Springhill formation. Following perforation, oil and water ave flowed into the wellbore and to surface, indication the redistribution of fluid phases in the central section of the field.
The well is now to be suspended while a project to install an electric submersible pump is in development, following which the well will be tested with a view to being brought into production, which is expected to be 60 barrels of oil per day.
"We are pleased that this second well in the workover programme has yielded this gratifying result and means that we can work towards rapidly bringing this well into production utilising existing facilities in the field," said Chief Executive Officer Fiona MacAulay.
"The fact that oil has flowed into the wellbore in the former gas leg in the central part of the Canandon Salto field is particularly pleasing in opening the potential for Canandon Salto field rehabilitation - for which a work programme across a number of potential well candidates across the field could re-establish further increases in production over the next few months," MacAulay added.
Shares in Echo Energy were down 3.4% at 14.40 pence on Monday.
Echo Energy (ECHO)