The state government of Sala in Argentina awarded the Valle de Lerma exploration and exploitation oil and gas block license to Delta Mutual under Salta Governor Decree No. 4519 dated Oct. 25.
The license covers an area of approximately 5,259 sq km and is located in the northwest Cretaceous Metan Basin around the capital city of Salta, which is about 1,700 km northwest of Buenos Aires. The license is for 20 years for exploration and production of hydrocarbons with a renewal option of 10 years.
Delta and its partner, Grasta Petroleum, a mid-size refinery, will develop the plan for exploration, including: 2D seismic interpretation by Nexus LLC; a geological model application and hydrocarbon micro-seepage survey by Geo Microbial Technologies Argentina; and workover of the La Troja well by a local rig contractor. The Cretaceous zone will be the target in both old and new wells.
In the past, YPF explored the Valle de Lerma Block. Several lines of 2D seismic were performed and two exploration wells were drilled in December 1990 and November 1994.
The exploration terms are four years for the first period, three years for the second and two years for the last period.
Delta expects to start the workover of the La Troja well in the fourth quarter. SAHF, Delta’s Argentine subsidiary, holds controlling interest and is the operator.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.