Americas Petrogas is pleased to announce the discovery of oil and gas at its Agua de Afuera (ADA.x-1) Vaca Muerta Formation, unconventional, vertical shale exploration well, which is located on the Los Toldos II block (38,400 gross acres or 155 square kilometers or 60 sections) in Neuquén Basin, Argentina.
A five-stage hydraulic fracture stimulation in the Vaca Muerta shale Formation was conducted on the vertical well. Beginning in late 2013, the first production test started and lasted 20 days. During this time, the well produced high quality 39.5 °API oil, gas, and injected water. The initial hydrocarbon production rate was 240 boepd (79% oil). The average hydrocarbon production during this period was 216 boe per day (79% oil) with 460 barrels of flowback water per day on a 4 mm choke. Over the course of the test the well-head static pressure declined normally from 5135 pounds per square inch (psia) to 1427 psia. At the end of this test, 28% of the injected water used for fracturing had been recovered.
After 32 days of pressure build-up and the installation of a preliminary production facility, the well production test was restarted and lasted 24 days. The average hydrocarbon production during this second test averaged 163 boe per day (77% oil) with 172 barrels of flowback water per day on a 4 mm choke. Over the course of the test the well-head static pressure declined normally from 4170 psia to 944 psia. At the end of this test, 40% of the injected water used for fracturing had been recovered.
The ADA.x-1 well was drilled to total depth of 3,448.5 meters or 11,311 feet, in late 2012 and drilled through 340 meters, or 1,115 feet, of the primary target Vaca Muerta shale formation with oil and gas shows through most of this shale section. Hydrocarbon shows were also encountered in secondary targets such as the Agrio, Quintuco and Tordillo Formations.
Mr. Barclay Hambrook, President and CEO of Americas Petrogas said, "This is the third successful Vaca Muerta discovery that Americas Petrogas has drilled and tested in the Neuquén Basin with our partners, ExxonMobil and Gas y Petroleo del Neuquen. We are extremely satisfied with the results of this Vaca Muerta test and look forward to seeing the potential of the other zones encountered with hydrocarbon shows." Americas Petrogas is the Operator of the Los Toldos blocks and holds a 45% Working Interest. ExxonMobil also owns a 45% Working Interest with the remainder held by Gas y Petroleo del Neuquen.
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