Crown Point reports on two Argentine exploration wells

Crown Point Energy Inc., Calgary, has released test results for the first of two exploration wells at its Tierra del Fuego concessions in Argentina.

A 25.78% owner, the company also updated work on a second exploration well and expects to release test results by the end of the month.

Crown Point Chief Executive Officer Murray McCartney said if timely government approvals arrive for a gas line from the first well to the company’s nearby San Luis gas plant, “we should have this well on production by the end of January.”

The exploration well SL x-1003 was completed on Dec. 4. During a 4-hr production test, it flowed gas from the Springhill sand formation at a gross rate of 5.6 MMcfd and liquids at a gross rate of 88 b/d.

Total gross production during the test was 0.936 MMcf and 14.7 bbl consisting of 100% oil at an average wellhead flowing pressure of 1,010 psi through a 14-mm choke.

The well was drilled to a TD of 2,207 m and cased on Nov. 11 as a potential Springhill gas well with about 24.5 m of gross pay. It is 2.6 km from the San Luis gas plant and was drilled to evaluate the potential of the Springhill sandstones on a separate fault block adjacent to the San Luis Springhill gas pool, the company said.

Field work and tie-in will begin as soon as the previously mentioned government approvals are issued. Additional drilling to exploit the pool discovery may be conducted during first-quarter 2015 and, if successful, would also be tied into the San Luis plant, the company said.

PQ x-1001, the second exploration well, has been drilled to a TD of 1,939 m and cased on Dec. 8 as a potential pool discovery with about 14 m of gross pay in the Springhill sandstones formation.

PQ x-1001 was drilled to evaluate the Springhill formation over the 50 sq km 3D seismic mapped Puesto Quince structure. Completion and testing of the Puesto Quince well will take place later this month.

Crown Point said a successful completion of the well would generate additional drilling locations for 2015. The well is about 5 km from its gas and oil processing at Rio Chico.

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