‘Significant’ Light Oil Column Interpreted in Onshore Argentina Well
Latin America focused upstream oil and gas company, Echo Energy Plc, announced on the 21st June that a “significant light oil column” has been interpreted in the EMS-1001 well onshore Argentina.
The well, located in the Fraccíon C licence operated by Compañía General de Combustibles SA, reached a total depth of 8,070 feet in the Upper Jurassic Tobifera formation. Following preliminary wireline log evaluation, Echo said a “significant” hydrocarbon column was interpreted between 5,649 feet and 7,283 feet.
“If hydrocarbon saturations across this section are confirmed, the preliminary evaluation might represent an interval of some 500 metres [1,640 feet] which could significantly open up the play for the area,” Echo said in a statement.
Fiona MacAulay, CEO of Echo, said the results of the well were “very encouraging”.
“Testing is the critical next step to establish the effectiveness and deliverability of the reservoir and we caution that any conclusions prior to test results would be premature,” she said.
“The company will now take the time required to confirm the early interpretation of the wireline logs and design an effective test programme with a view to confirming the scale of our new oil discovery,” the CEO added.
Source: Rigzone