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Echo Energy achieves significant production boost in Argentina from intervention work

Pilot interventions were carried out on four wells, which boosted output to 115 barrels per day from 5 barrels

oil well
Work was carried out at four wells

Remedial work by Echo Energy Plc (LON:ECHO) at the Cañadon Salto Field in the Fracción D licence in Argentina has seen a major boost to production.

Pilot interventions were carried out on four wells, which boosted output to 115 barrels per day from 5 barrels.

READ: Echo Energy continues to progress​ Argentina wells, signs new deal in Bolivia

The first well to be commissioned, CSo-96, saw production rise to 60 barrels per day from 12 barrels and is a good indicator of the potential capacity of these wells, Echo added.

Prior to the interventions, production across the CDL licences (Fracción C, Fracción D and Laguna De Los Capones) was around 500 barrels per day excluding gas.

Echo will now monitor the pilot performance before making a decision on a full-scale remediation project across the field, which could potentially see production levels of over 400 barrels oil per day.

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Price: 0.5095 GBX

AIM:ECHO
Market: AIM
Market Cap: £3.63 m
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