London-listed junior President Energy has started its accelerated work programme onshore Argentina, following the success of its initial drilling campaign, writes Anamaria Deduleasa.

President recently began a seven-well workover programme at the Puesto Flores field in the Neuquen basin in Rio Negro province.

The work, which will take between two and three months, will cover six wells, comprising five production wells and one water injector.

In addition, a three-well drilling plan at Puesto Flores is expected to start in September.

The drilling programme will comprise two development wells and one step-out appraisal well, the company said.

Nearby, the company will also be testing formerly shut-in gas wells at the Estancia Vieja field.

The results of these tests, which will take place in June, will help the company determine the best way to monetise the gas as well and the extent of its gas reserves at Estancia Vieja.

President has not yet revealed production guidance for the field, however, chairman Peter Levine recently said he aims to “substantially” increased production through the current work.

Meanwhile, the company continues to look for new acquisitions in Argentina. Levine told Upstream that, so far, the search has come up dry, but President remains hopeful.

In addition, the explorer continues talks with potential farm-in partners for its assets in Paraguay and its exploration acreage in Argentina.

Weekly

President push in Argentina