Andes Energia has completed an intervention operation on the VG x-1 well in Argentina, testing the Vaca Muerta formation, which is currently producing 80 bbl/d of oil without a hydraulic fracturing stimulation.
Andes owns and operates the VG x-1 well, which is located on the Vega Grande oilfield in the Neuquén basin, Mendoza Province.
The Vega Grande licence covers a total area of 72,000 acres and is located in the north of the Vaca Muerta play, close to the La Brea licence, which is also 100% owned and operated by Andes.
Combined, the two licenses cover a total area of 105,000 acres, representing about 42% of net acreage in Vaca Muerta to Andes.
Andes Energia CEO Alejandro Jotayan said: "This production test in Vaca Muerta is a meaningful advance in the development of our shale acreage.
"We are already producing from shale without needing to frack, reducing costs and the necessary break-even oil price. It de-risks 30% of Andes’ net acreage in Vaca Muerta, more than doubling our already de-risked acreage; and is the first Andes operated intervention and production test in Vaca Muerta."
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By GlobalDataAndes Energia is an oil and gas company focused on onshore South America with operations in Argentina, Colombia, Brazil and Paraguay.
The company has 20MMbbls of conventional 2P reserves in Argentina and it presently produces 1,700 bbls per day in the country from seven conventional fields.
