President Energy Completes Exploration Well in Argentina’s Rio Negro Province

Drilling Activity Details


Río Negro

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Drilling Activity Summary


President Energy reported test results from exploration well #1-xEVN near Estancia Vieja Field in northern Rio Negro Province, Argentina. Two pay intervals in the previously untested Estancia Vieja North structure were confirmed by well logging, with an unreported amount of 36° API oil and gas flowing to the surface. The preliminary testing indicated that initial production levels can be expected in line with P50 pre-drill expectations of more than 200 bbl of oil per day plus associated gas from this lower interval. The well is near the main Estancia Vieja pipelines and facilities. Additional exploratory drilling and testing are planned. President Energy is based in Leeds, U.K.