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Echo Energy readies for Argentina well testing programme

All four recently drilled wells are due to be tested in the coming weeks and months

oil and gas operations
The test programme will start with the ELM-1004 well

Echo Energy Plc (LON:ECHO) told investors that the testing rig has now been mobilised for a hotly anticipated programme planned for the group’s newly drilled wells in Argentina.

First, the rig is being moved to the ELM-1004 well (drilled and suspended in May) where it will spend between two and three weeks of testing.

It will subsequently move on test the other three new wells drilled during the 2018 campaign.

READ: Echo Energy kicks off final well in Argentina campaign

The order of the test programme has yet to be determined because the test design for the most recent well, EMS-1001, which was said to have encountered a potentially significant oil column, has yet to be completed.

Whilst the rig is under contract, the company is considering opening up and recompleting existing wells, at both the Estancia La Maggie are of Fracción C and the Fracción D asset.

“The company will update shareholders with progress on both the testing and workover activities as the programme advances,” Echo said in a statement.

Quick facts: Echo Energy PLC

Price: 2.15 GBX

AIM:ECHO
Market: AIM
Market Cap: £15.3 m
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