YPF hails Santa Cruz deep gas discovery

Deep discovery: Miguel Galuccio's YPF hits gas in Santa Cruz

Argentina's YPF has discovered wet gas in Santa Cruz province at deeper than traditionally productive horizons in a find that the explorer believes could be a play-opener.

The Buenos Aires-headquartered state company said that the Los Perales-Las Mesetas block find has the potential to produce 200,000 cubic metres per day plus moderate flow of crude.

It was uncovered at 2770 metres, deeper than traditional producing horizons in the region.

"This discovery is the result of innovation because we went after a deeper concept, below mature formations," said YPF chief executive Miguel Galuccio in a press statement. 

A key factor on the find was the use of integrated 3D seismic techniques to the supposedly mature Gulf of San Jorge conventional play, YPF said.

YPF recently registered a 15.2% in gas output in the Santa Cruz province, compared with the second quarter of 2013.

Crude oil production was also up 3.7% in the province, compared with the same period in 2013.

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