Latin America focused Andes Energia said Monday its Las Varillas x-1 well discovered an oil pay zone at Argentina’s onshore Vaca Muerta shale play.
The vertical well was drilled in three stages and encountered a 410 foot gross oil pay zone.
The well flowed at an average rate of 90 barrels per day during a 48 hour test period that rose to 108 bpd after the installation of artificial lift equipment, Proactive Investor said.
The well is continuing production as Andes Energia performs mechanical work to boost its productivity.
Argentina’s YPF holds a 60 percent operating stake in the well.
Andes Energia holds the remaining 40 percent stake.
“We are very encouraged with the results of Las Varillas x-1 well, which represents our fourth discovery and test in Vaca Muerta and our second well currently producing from Vaca Muerta. We believe the future for the development of our acreage in Vaca Muerta is extremely positive,” Andes chairman Nicolas Mallo Huergo said.