Pan American completes horizontal multifrac well in Vaca Muerta

Pan American Energy (PAE) completed and tested a horizontal multifrac well in the Vaca Muerta shale formation at Coiron Amargo Sur Este (CASE) in Argentina.

The CASE-501h multi-frac well, the second in a five-well program, was drilled horizontally for 2,000 m at a vertical depth of 3,100 m, partner Centaurus Energy Inc. (formerly Madalena Energy Inc.) said.

CASE-501h, connected to early production facilities on Nov. 9, 2019, achieved a 30-day average initial production (IP30) rate of rate of 1,003 b/d of oil with an average wellhead pressure of 4,885 psi, significantly higher than CASE-101h, Centaurus said.

The CASE-401h horizontal multi-frac well, the third of the five well program, was completed and connected to early production facilities on Jan. 7, 2020. IP30 results are expected to be released in due course, the company said.

CASE-501h and CASE-401h are part of the pilot program covered by a loan facility between Centaurus and PAE which will be repaid with the net production proceeds from Centaurus's interest in the CASE block.

Pan American is operator of CASE with 55% working interest. Calgary-based Centaurus Energy Inc. and Gas y Petroleo del Neuquen SA, the provincial oil and gas company in Neuquen province, hold 35% and 10% working interests, respectively.