According to local reports in late-September 2018, the subsidiary company of CAPSA, Capex, has reached the total depth (TD) of 4,100 m (13,451 ft) on the Agua del Cajon 1033 outpost well on its 100%-held Agua del Cajon block in mid-August 2018. The well was spudded in early June 2018 with objectives in the Lotena Formation and unconventional Lajas Formation.  Agua del Cajon block covers 353 sq km of land in the Huincul Uplift area of the Neuquen Basin.  The outpost well was drilled to appraise the Agua del Cajon field which has produced over 21 Bscfg and 8 MMbo since 1971, predominantly from the Lotena Formation sandstone. The field also produces from several unconventional reservoirs including Vaca Muerta and Quintuco shales and tight reservoirs of Los Molles and Lajas formations.  The Neuquen Province government granted a 35 year concession for unconventional hydrocarbons in the block to Capex in April 2017. The company reportedly plans to invest over USD 126 million in conducting a pilot project targeting gas from the Vaca Muerta Formation shale through 2021. The pilot project will include the drilling of 35 wells over four years, which can expand to 240 wells with total investment of over USD 1.5 billion, if results are positive.  Background Information    Capex has been the 100% operator on the Agua del Cajon block since January 1991, with the producing Agua del Cajon field on improved recovery since early-1999.
Argentina Capex SA reached TD on Agua del Cajon 1033 outpost, Agua del Cajon block, Neuquen Basin