Drilling is to start by Mar. 22 on a 10-12-well drilling program in the El Valle area of Argentina’s Neuquen basin, said Crown Point Ventures Ltd., Calgary.
Excessive rain has delayed start of the program, but a rig is under contract and the first 6-7 wells will be multizone oil development in the Canadon Seco and Caleta Olivia formations. The company plans to drill 24 wells at El Valle in the next 2 years.
Crown Point is also undertaking 2-4 workovers at El Valle to access behind-pipe pay zones. This work is also to start in late March.
The company awarded a contract to electrify the lower part of El Valle field. The project is to be complete in 4-6 months. Electrification will enable installation of high-volume progressive cavity pumps, more consistent production rates, better well monitoring, and reduced costs.