Andes Energia has successfully pushed its exploration campaign in Argentina, drilling 26 development wells in the past six months.
The firm confirmed it had also brought 97 wells on stream. Between the two campaigns the firm has increased its production in the Chachahuen block in the Province of Mendoza by more than 4,000 bpd.
The firm has just completed a 2D and 3D seismic study of the area, covering more than 500 sq km. The data will now be analysed.
Chairman Nicolas Mallo Huergo said: “Chachahuen has proven to be a high quality oil asset characterized by a significant ongoing development plan with excellent exploratory results to date with new prospects and leads identified encouraging us to continue with this exploration and development program. The excellent results to date are an important step towards understanding and untapping the overall potential and commerciality of the block.”