President Energy Details Work Program in Argentina
President Energy said March 25 it will spend $50mn on its Argentine work program in 2019 and 2020.
The work program for early 2019 includes at least 10 workovers in Puesto Flores, Estancia Vieja, Puesto Prado and the Las Bases fields. A rig is currently being mobilised to the first well location, the company said. Work will also begin on the first phase expansion of its Las Bases gas plant, to take annual capacity to 250,000 m3.
Later in 2019, seven new production or appraisal wells will be drilled, while new pipeline will be laid between Puesto Prado and Las Bases.
In 2020, President Energy plans eight new wells in Las Bases, Puesto Prado, Estancia Vieja and Puesto Flores. A second phase expansion at Las Bases will take capacity to 1mn m3.
President Energy, which holds a 90% interest in the Rio Negro Province with partner Edhipsa (10%), plans to fund the two-year program from existing cash flow.