President Energy spuds last of three development wells in Rio Negro

27th Nov 2018 15:28

(Sharecast News) - 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.