In early-July 2019, local sources reported that state company YPF has reached a total depth (TD) of 1,353 m (4,439 ft) on its Cerro Guadal (2019) 4 new-field wildcat (NFW) on the Chachahuen Sur exploration block in late-May 2019. The well was spudded earlier in the same month with objective in the Lower Centenario Formation. YPF has a 70% operating interest in the block, and partners Phoenix Global Resources and Mendoza Provinceâs oil and gas company EMESA hold 20% and 10%, respectively.  Chachahuen Sur exploration block covers 460 sq km of land in Northeast Platform area of Neuquen Basin. The block is part of a larger Chachahuen block (1,597 sq km), along with Chachahuen Norte and Chachahuen Centro.  YPF recently submitted a request for validity extension for the entire Chachahuen block in late-2018, according to official reports.  Background Information    The Chachahuen block area has been reduced and divided into 3 blocks in late-2015. A two-and-a-half-year extension has been granted for the Chachahuen Sur exploration area with commitments to acquire of 478 sqkm of 3D seismic and drill four exploratory wells. For the Chachahuen Norte area, a three-year evaluation period has been granted with the commitments to complete one previously drilled well, drill one stratigraphic well targeting the Neuquen group, implement a two well pilot project to test productivity, and delineation of ten shallow well drilling program. While for the Chachahuen Centro area, two-year extension has been granted with the commitments to acquire 267 km of 2D seismic and drill one exploratory well.
Cerro Guadal (2019) 4 NFW, Chachahuen Sur exploration has reached a total depth (TD) of 1,353 m (4,439 ft) on its Cerro Guadal (2019) 4 new-field wildcat (NFW) on the Chachahuen Sur exploration block in late-May 2019.