Latin America-focused oil and gas firm Echo Energy today announced the discovery of gas at its ELM-1004 exploration well.
The discovery is from the first well as part of the company’s four well exploration campaign at the Fracción C asset in Argentina.
Echo Energy said the well encountered “over 40 metres of gas shows through the Upper Tobífera with gas peaks of over 195,000 ppm and a full distribution of C1 to C5 hydrocarbons, as measured against referenced background gas levels of less than 10,000 ppm outside of the zone”.
The firm also said an initial investigation suggests “14.5m of net pay within the section, that being towards the upper end of the range”.
A production casing string is currently being run in anticipation of the arrival of the completion rig, scheduled for June 2018, at which point the well will be tested to determine deliverability of the reservoir.
Following completion of this phase of the operation on the ELM-1004, the rig will move directly to the second prospect in our four well exploration programme, Los Alamos x-1 (ELA-1).
Fiona MacAulay, chief executive of Echo, said:”We are very excited to have confirmed the presence of a substantial gas column in this first well of our four well exploration programme and look forward to the arrival of the completion rig and subsequent testing in June. Meanwhile our attention turns to ELA-1 where we expect to spud the well within the next few days.”