Seismic Program Commenced at President Energy's Paraguay Ops

Printer Friendly Version
Email this Page

President Energy plc announced that seismic acquisition has commenced at its concessions in the Chaco region of Paraguay.

Approximately 301 square miles (780 square kilometers) of 3D seismic and 62 miles (100 kilometers) of 2D seismic will be acquired over high-graded areas of the Pirity and Demattei Concessions respectively. 

Approximately two hundred people are being deployed in the seismic operations by President's seismic partner, Global Geophysical Inc. of Houston, Texas. Global will provide a full suite of data acquisition, data processing, interpretation and reservoir risk reduction tools, as well as passive microseismic monitoring using their proprietary Tomographic Fracture Imaging technology.

This is the first 3D survey to be shot in Paraguay and the first comprehensive and concentrated modern seismic survey to be undertaken in the prospective Pirity Basin of the Paraguayan Chaco. In line with original timetable, the seismic survey will be completed by the end of August with initial results being available during the latter part of Q4 2013.

Now that the operational phase of seismic acquisition has begun, President's next focus is to plan the drilling phase for the initial three exploration wells in 2014, a program which will follow review of the seismic results and the high grading of drilling locations.

Peter Levine, Chairman, President Energy commented:

"We have now commenced material activity in a program which is of national importance and priority to Paraguay, which currently imports all its oil requirements.

"We look forward to the successful completion of the seismic survey, a first of its kind for the country, and look forward to results later in the year."

Printer Friendly Version
Email this Page

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Processing Center Manager
Expertise: Geophysicist
Location: Houston, TX
 
Senior Processing Geophysicist
Expertise: Geophysicist
Location: Houston, TX
 
Software Delevoper
Expertise: IT - Software Development|Software Specialist
Location: Grand Junction, CO
 
search for more jobs

Brent Crude Oil : $62.07/BBL 0.09%
Light Crude Oil : $56.93/BBL 0.05%
Natural Gas : $2.82/MMBtu 1.43%
Updated in last 24 hours