ExxonMobil discovers oil and gas in Argentina

Exxon Mobil Corporation announced that its affiliate, ExxonMobil Exploration Argentina, together with Gas y Petroleo del Neuquen, has discovered oil and gas in an unconventional shale well in Neuquen Province of Argentina.

Liquids-rich area

Located in the liquids-rich area of the Vaca Muerta play, the Bajo del Choique X-2 well was drilled to a total measured depth of approximately 15 000 ft (4570 m). The horizontal leg of the well extends for 3280 ft (1000 m).

The well was completed in the Vaca Muerta formation and flowed at an average rate of 770 barrels of oil a day (bpd) on a 12/64 in. choke in its first flow test. Data analysis and additional studies are being conducted to fully evaluate this discovery. Appraisal wells will also need to be drilled before a commerciality decision can be made.

Comments

"Not all shales are alike, so our first ExxonMobil-operated discovery in the Vaca Muerta play is a very positive sign that the shale in this area of Neuquen Province holds great promise as a liquids-rich unconventional resource for Argentina," commented Stephen Greenlee, President of ExxonMobilExploration Company.

Governor of Neuquen Jorge Sapag added: "I am pleased that the association between ExxonMobil and GyP is starting to deliver excellent results as expected by energy analysts on the potential of the Vaca Muerta formation in Neuquen."

Unconventional shale

ExxonMobil is operator and holds 85% working interest in the Bajo del Choique Block. Gas y Petroleo del Neuquen holds 15% interest.

ExxonMobil Exploration Argentina holds interests in approximately 900 000 net acres in the unconventional shale oil and shale gas plays of the Vaca Muerta in Neuquen Province.

Adapted from press release by Katie Woodward

Read the article online at: https://www.worldpipelines.com/business-news/22052014/exxonmobil_discovery_in_argentina_82/