Madalena Energy Inc. (MVN:TSX.V; MDLNF:OTCPK) announced in a news release that its partner Pan American Energy successfully completed and tested CASE-101h, the first horizontal multifracked well in Argentina's Vaca Muerta formation.
CASE-101h, in the Coiron Amargo Sur Este (CASE) block, was drilled roughly 2,000 meters (2,000m) horizontally and about 3,160m vertically.
On testing, the well achieved a 30-day average initial production rate (IP30) of 1,020 barrels of oil per day and a wellhead flowing pressure between 4,900 and 2,700 pounds per square inch. The IP30 of CASE-101h was 67% higher than the IP30 reported for the only previously noteworthy test on Vaca Muerta's CASE block, which was the CAS.x-14 well completed in early 2018.
"We believe this demonstrates the geological potential of the Vaca Muerta within the CASE block and that optimization gains can be significant," Madalena CEO Jose Penafiel said in the release.
CASE-101h is the first of five CASE wells slated for completion and testing this year. Already at the next two, CASE-501h and CASE-401h, "the vertical section has been drilled, cased and cemented" and "drilling of the horizontal section in the Vaca Muerta is ongoing," the release noted. Next, the drill rigs will be moved and subsequently, completion begun.
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