PAE launches Vaca Muerta re-entry program

Friday, March 17, 2017

A consortium led by Pan American Energy (PAE) began a horizontal multi-frac re-entry program at the Coiron Amargo Sur Este (CASE) concession targeting Argentina's Vaca Muerta shale formation.

A rig mobilized by PAE to the CAS.x-15(ST) well will drill horizontally for about 1,500m at a vertical depth of approximately 3,200m, PAE's partner at the project, Madalena Energy, said in a statement.

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The firms plan to complete the well with approximately 19 stages of hydraulic fracs, Madalena said, citing that the total gross estimated cost for the re-entry program is US$9.8mn.

Working interests at CASE are held by operator PAE (55%), Madalena (35%) and the state-owned oil company of Neuquén province, GyP del Neuquén.

PAE is a 60:40 joint-venture between BP and Bridas Corporation.

At a forum last year in Buenos Aires, BP CEO Bob Dudley lauded market-friendly reforms undertaken by President Mauricio Macri's government and cited plans to ramp up investment at Vaca Muerta.