President Energy spuds last of three development wells in Rio Negro

Upstream oil and gas company President Energy updated the market on its current drilling programme at the Puesto Flores/Estancia Vieja Concession in Río Negro Province, Argentina on Tuesday.

The AIM-traded firm holds 90% of the concession and is the operator, with Edhipsa holding the remaining 10%.

It said the PFO 1005 development well at the field, being the last of the recent three-well sequence, had now been spudded.

With a provisional target depth of 2,700 metres, it was estimated that the well would be drilled in approximately 21 days.

“The recently drilled PFE 1001 well is expected to be completed with a workover rig and be on stream by the end of next week,” President Energy added in its statement.