Echo To Study Bolivian Shale
AIM-listed South America explorer Echo Energy said October 15 it agreed a deal to evaluate a Bolivia block and has tested its third Argentinian well, both targeting onshore shale gas.
In Bolivia, Echo signed October 12 a technical evaluation agreement for the Rio Salado block with Bolivian state producer Yacimientos Petroliferos Fiscales Bolivianos (YFPB). The 12-month work programme agreed includes the interpretation of 2D seismic shot in 2015-16 and only recently made available, and mapping a deep structure across the Rio Salado and Huayco blocks. Echo estimates 'original gas in place' across both blocks at 1.75 trillion ft3 (mean). In 12 months, Echo will have the right to negotiate contract terms with YPFB for Rio Salado, should it elect to do so, but has no right yet to acquire an interest.
Echo is continuing a joint evaluation agreement with Argentina’s Pluspetrol over the Huayco block which has reprocessed certain 3D data across Huayco and part of Rio Salado in the past 12 months.
Meanwhile in Argentina, Echo and local leading producer/midstream player CGC each have 50% interests in four licence blocks. On one of these, namely Fraccion C, it spud a well in June 2018, its third overall in the country. From the results, Echo now says it is suitable for mechanical stimulation which it expects to start by end-2018.