President Energy confirms spudding of Puesto Flores development well

Upstream oil and gas company President Energy confirmed on Friday that the PFE 1001 development well had now spudded at the Puesto Flores/Estancia Vieja Concession in Río Negro Province, Argentina.

The AIM-traded firm held a 90% share of the concession and was operator, with EDHIPSA holding the remaining 10%.

“This is the second well in the three well programme and is expected to take some 21 days to drill to target depth,” President’s board said in its statement.

“Subject to success, the well will then be completed which is projected to take a further 10 days.”

Completion work on the successful PFO 1001 was expected to take place and put on stream by the end of the drilling of PFE 1001, President Energy added.