Azabache Energy Inc. announces the completion of the fracture stimulation operation at the Cvo.x-2 well in the Covunco Norte Sur Block, Neuquen Province (the "Block"). The operation achieved its primary objective of proving that oil can be liberated from the Vaca Muerta formation, which is consistent with previous studies conducted by the Company's consultants on the Block.
The lower stimulation (perforated at 1,990.5 to 1,974.0 meters below ground level) was halted after the injection of 876 cubic meters of water and 20.9 metric tons of proppant, due to low fraccability of the base of the Vaca Muerta formation and because the fractures were expanding beyond the target zone into the gas and water bearingTordillo formation, below the Vaca Muerta.
The middle stimulation (perforated at 1,946.0 to 1,914.5 meters below ground level) was completed after the injection of 1,259 cubic meters of water and 182.6 metric tons of proppant. A microseismic survey indicated the fractures extended 210 meters in length and 189 meters in height above the perforated zone.
The upper stimulation (perforated 1,672.7 to 1,642.0 meters below ground level) was completed after the injection of 1,538 cubic meters of water and 211.1 metric tons of proppant. A microseismic survey indicated the fractures extended 287 meters in length and 186 meters in height above the perforated zone.
Currently the well is on test production. The injected water is expected to be recovered during the first 3 weeks, after which the formation fluid is expected to be produced.
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