President Energy, the energy company with a diverse portfolio of energy assets provides an update on its oil and gas operations in Argentina and Louisiana
Highlights
· Well DP-2003 drilling on, now at over 1,200 metres with surface casing successfully run and cemented
· Remaining time for the drill to reach target depth estimated at 10 days
· Workover of Triche well in Louisiana completed, rig moved off location with swabbing now in progress to bring well on stream
Salta drilling
Drilling of the DP-2003 well is proceeding on plan and now at over 1,200 metres having successfully run and cemented the surface casing.
The plan is to continuously drill to target depth which at this rate of progress is expected to be reached in approximately 10 days. After that it is necessary to allow a further 7-10 days (allowing for Christmas) for running electric logs, running casing to the bottom and cementing.
Louisiana
The workover rig at the Triche well has now been moved off site having completed its work, being replaced by a smaller barge and a swabbing and wireline unit to get the well back into production.
The work is running slightly over budget at this stage and over expected time due to down hole issues encountered caused by the manner in which this well was drilled and completed by the previous operator. The original expectations for this well remain.
