Americas Petrogas has discovered light oil in the LHo.x-1 well of Totoral block, located in the Southwestern region of the Neuquen Basin, Argentina.
The well has been drilled and confirmed oil production potential from the Vaca Muerta Shale of the Picun Leufu Sub-Basin.
The well is located near the company’s other three southernmost blocks namely Totoral, Yerba Buena and Bajada Colorada, which covers a combined area of about 1,126,600 acres.
Americas Petrogas president and CEO Barclay Hambrook said the LHo.x-1 well has added exploration benefit to the very large area, where the Vaca Muerta formation has flowed at relatively shallow depths.
"I thank our team for their dedication and their decision-making, which were instrumental in this new discovery," Hambrook added.
The LHo.x-1 well has been drilled to a total depth of about 1900m and cased and cemented in the middle of 2012.
The well intersected the Vaca Muerta Shale formation with thickness of 666ft or 203m.
During the drilling, hydrocarbon shows were encountered and data was collected from the Mulichinco, Quintuco and Quebrada del Sapo formations.