According to reports in late-April 2019, Repsol and partners were testing the Boyuy X2 new-field wildcat (NFW) well on the Caipipendi block in the Huamapampa Kipe (deep) formation in mid-March 2019 after reaching a total depth (TD) of 7,963 m (26,125 ft) with gas shows in February 2019. The formation was reportedly encountered below 7,640 m, compared to where the Huamapampa reservoirs would normally be found between the depth of 4,000 and 5,800 m. Repsol operates the block with 37.5% stake, joined by partners Shell with 37.5%, and Pan American Energy (PAE) with 25% interest. Initial investment for the project was said to be set at USD 120 million.    Boyuy 2 was spudded in July 2017. The companies decided to continue operations on the well after previously reaching its originally assumed TD of 7,220 m (23,688 ft) in early-August 2018, which made Boyuy 2 it one of the deepest wells in the region. Planned total depth of the well was 6,500 m (21,325 ft), with objectives of three reservoirs in the Huamapampa Formation.     Caipipendi block covers approximately 1,314 sq km of onshore land in the Chaco Sub-Andean Zone of Chaco Basin. The Margarita-Huacaya gas mega-field is located nearby, where the companies have confirmed the discovery of two new reservoirs, Huamampampa 3 (H3) and H1C, in the Huamapampa Formation back in 2015.    Plans for exploration activities in the Boyuy area were originally outlined back in October 2016 when Repsol and its partners signed the addendum and extension agreement for Caipipendi with state company YPFB. The addendum specifically involves the implementation of a USD 500 million program to explore the Boyuy and Boicobo prospect areas (estimated potential of 3 Tcf of gas) over through 2021. Reports from the Bolivian Ministry of Hydrocarbons and Energy (MHE) indicated that the extension adds another 10 years to the contractâs original expiration date of 2031, but can still be extended further up to 15 years if results from the new prospects are positive with the total investment cost expected at USD one billion through 2046.    Background Information    The Boyuy and Boicobo exploration prospects in Caipipendi, along with another one called Ipaguazu, were first identified in February 2016 through data analyses from 2D and 3D seismic surveys carried out by Repsol between 2013 and 2015. It was estimated then that they could possibly add approximately 636 MMcfg/d of total production to Bolivia starting in 2019.
Boyuy X2 (NFW) (Repsol 37,5% op, Shell 37,5% + PAE 25%) in the Caipipendi block, Bolivian sources disclosed that drill stem testing on the recently announced natural gas discovery, was a failure. The well did encounter gas and sources indicated initial testing looked good with a good initial flow rate but the pressure soon dropped and it began to flow water from the Huamampampa Fm. test zone. The well is now likely to be P&A with gas shows.