La petrolera publicó este martes un reporte actualizado de sus operaciones y resultados. Destacó los avances tanto en shale como en el bloque convencional Coirón Amargo, parte de la formación Sierras Blancas,que se encuentra por debajo de Vaca Muerta.

Desde su sede central en Calgary, Canadá, la compañía reportó que ha logrado perforar, completar y poner en producción su tercer pozo horizontal para la extracción de petróleo ligero en Sierras Blancas(CAN-18 (h)), gracias a la identificación exitosa de un tercer depósito en su bloque Coirón Amargo (35% WI).

El CAN-18 (h) horizontal fue colocado inicialmente en la producción a través de las instalaciones permanentes en un total de 910 bep / d (83% de aceite). Y se espera que a finales de noviembre comience una cuarta perforación horizontal, también en Sierras Blancas.

Tal como lo destacó en un reciente informe Morgan Stanley, Madalena Energy es una de las compañías canadienses que se sumaron a la apuesta por el shale argentino.

Al respecto de sus operaciones en el esquisto neuquino, la compañía informó el inicio de la perforación de un pozo en Vaca Muerta en su sector CAS-x-16 y adelantó sus planes para completar y, posteriormente, llevar a cabo operaciones de prueba y evaluación en otros dos: el CAS-x-16 y el previamente perforado CAS x-15.

Madalena se ha asegurado dos equipos de perforación adicionales para sus bloques Puesto Morales y Curamhuele, donde planea perforar un pozo horizontal en Loma Montosa y hacer tareas de evaluación en Agrio y Mulichinco.

Agrio, fue presentado recientemente como “la nueva joya de la cuenca neuquina”. Se trata de una capa de roca generadora de entre 200 y 450 metros en promedio, que se extiende desde el norte neuquino y se mete como una flecha hacia el sur de Mendoza, pasando por la localidad de Malargüe. Aloja en sus entrañas petróleo de alta calidad y, según los primeros estudios, tiene una presión más que optima para su producción.

Madalena tiene participación en 14 grandes bloques dentro de cinco provincias de la Argetnina. A raíz del potencial de los no convencionales, la compañía se centró en trabajos para la explotación de petróleo de esquisto en Vaca Muerta y Agrio y en yacimiento tight. En simultáneo también se dedica a la implementación de la tecnología de perforación horizontal y terminaciones para desarrollar obras de recursos de alto impacto en proyectos de petróleo y gas convencionales.

Coiron Amargo (35% WI) Block – Sierras Blancas Horizontal Exploitation & Vaca Muerta Shale Delineation

Madalena’s third Sierras Blancas horizontal (CAN-18(h)) was recently drilled and completed in Argentina and was placed on production on October 18, 2014.

The CAN-18(h) well was drilled horizontally in the Sierras Blancas light oil reservoir to a total measured depth of 3,642 metres with a horizontal lateral section of approximately 450 metres in length. This horizontal well was subsequently cased and completed with a 3.5″ slotted liner and for operational efficiencies was immediately placed on production through permanent facilities.

The CAN-18(h) well is flowing without artificial lift equipment and has been on production for approximately 12 days at choke settings ranging from 6 mm to 8mm in size with the following production rates observed to date:

The highest production rate was on a 8 mm choke setting, when the CAN-18(h) well produced at approximately 755 bbls/d of oil with 930 mcf/d of associated natural gas for a total of 910 Boe/d (83% oil) at an average flowing pressure of approximately 990 psi over the initial 24 hour period.
On a 6mm choke setting, the CAN-18(h) well has produced at an average rate of 342 bbls/d of oil with 566 mcf/d of associated natural gas for a total of 436 Boe/d (78% oil) over a 7 day period and at an average flowing pressure of approximately 901 psi. Water cuts have ranged from 5 to 17%.
The CAN18(h) well is the third horizontal well drilled into a third separate pool of the six Sierras Blancas conventional light oil pools discovered to date on the Coiron Amargo block. The Company has an inventory of horizontal development locations on the Coiron Amargo block and a fourth horizontal well targeting the Sierras Blancas light oil reservoir (CAN-16(h)) is now expected to spud in lateNovember 2014 once the drilling operations are completed at CAS.x-16 (see below) and the drilling rig is moved to the CAN-16(h) location.

With the Coiron Amargo block located within the oil window of the Vaca Muerta shale, the Company is currently drilling a Vaca Muerta shale delineation well at the CAS.x-16 location in the southern portion of the Coiron Amargo block. Completion and testing operations on this well and a previously drilled Vaca Muerta shale well at the CAS.x-15 location are both expected to be carried out as part of a multi-well completion program in late 2014 and early 2015. The CAS.x-15 well was previously drilled and cased after encountering approximately 114 metres of Vaca Muerta shale.

Puesto Morales (100% WI) Field – Workover Program Optimizing Production & Drilling Rig Secured for Horizontal Drilling of Loma Montosa Oil Resource Play

Madalena has completed a four well recompletion program in the Loma Montosa formation at Puesto Morales. The recompletions focused on zones which had been successfully recompleted in other wells within the field. Three of the four wells have been placed on production and the fourth well is expected to soon be on-stream. Results of the program are expected to offset natural field declines as planned.

A multi-well horizontal drilling program in the Loma Montosa oil resource play is planned for 2015 in the Puesto Morales field. A drilling rig has been contracted and it is expected that the first well will commence drilling in December 2014 or January 2015.

Curamhuele (90% WI) Block – Drilling Rig Secured for Agrio Shale & Mulichinco Appraisal Program

Madalena and its partner Gas Y Petroleo (GyP, the Provincial Oil company) have secured a drilling rig for the re-entry, sidetrack and completion (frac and test) of the CH-x-1 well targeting the Agrio shale and the deepening of the YP-x-1001 well to frac and test the Mulichinco liquids-rich gas resource play. Regulatory approvals have been received and the Company anticipates commencing operations in Q1 2015. Madalena’s Curamhuele block is within the oil window of the Agrio shale with an estimated thickness of 225 metres and is directly offsetting a recently announced Agrio shale discovery by the Argentina state company YPF. In addition to the Agrio shale, the primary zones of interest on the Curamhuele block are the unconventional Vaca Muerta shale and liquids rich Mulichinco sands. The block is also prospective for other conventional reservoirs.

El Vinalar (100% WI) Block – Evaluation Underway

The Company recently re-entered the LR.x-1 vertical well on the El Vinalar block to retest an oil discovery in the Yacoraite zone of interest. Madalena’s re-entry and testing program for the LR.x-1 was designed to evaluate the potential to stimulate the well and subsequently place it on production. Pressure recorders were run and have been recovered. The ongoing evaluation of pressure data is expected to determine if a stimulation program is warranted. If so, those operations will be planned for 2015 and with successful results, multiple additional opportunities exist and may be pursued on the block.

While Madalena is encouraged by the initial results from the Nordegg exploratory well in Canada and the CAN-18h Sierras Blancas horizontal in Argentina, the initial flowback information disclosed above should be considered preliminary and is not necessarily indicative of the long-term performance of these wells. Ongoing technical work is expected to improve the Company’s understanding of the ultimate potential of the Nordegg horizontal play and the ongoing horizontal development in the Sierras Blancas.