Justin Jacobs, LONDON: Americas Petrogas, an
Argentine-focused independent explorer, has opened up a
previously unproven section in the south-west of the
multi-billion barrel Vaca Muerta shale play with a light oil
discovery at the Totoral Block.
"This new exploration discovery is very exciting for
Americas Petrogas as it adds significant exploration upside to
a very large area where the Vaca Muerta formation could be
produced at relatively shallow depths," the company's chief
executive Barclay Hambrook said in a statement.
The LHo.x-1 well, which was drilled in the less-explored
Picun Leufu sub-basin area of the shale play, was drilled in
mid-2012. The well encountered a 666-foot oil-rich section of
the Vaca Muerta shale. After a three-stage hydraulic fracturing
operation, the well flowed at between 300 and 600