Echo, CGC in Argentina gas find

Argentina

RíO GALLEGOS, May 18, 2018 – Echo Energy and Compañía General de Combustibles (CGC) have discovered natural gas in the onshore Fracción C asset in the Austral Basin, the UK company announced in a press release on Friday.

The 40-metre column of gas was discovered through the ELM-1004 exploration well, drilled 1,760 metres into the Lower Tobífera formation. Echo said that the hydrocarbons encountered ranged from C1 to C5 resources.

The partners are now awaiting a completion rig, which is scheduled to arrive in Fracción C in June. After finishing up at ELM-1004, the companies will begin drilling ELA-1, the second in a four-well exploration campaign.

Echo farmed into CGC’s Fracción C licence in November 2017 with a 50% stake.

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