President Energy Completes First Portion of Workover Campaign

Oil and gas exploration company President Energy announced Friday that the first workover of a previously producing well, DP12 at the Dos Puntitas field in Argentina, has been completed on time and on budget.

The workover of DP12 is said to have gone to plan with minimal non-productive time. The well, which had previously had a leak in the production packer and a faulty Jet Pump Bottom Hole Assembly, has been treated with an acid stimulation and is achieving an initial production in excess of 120 barrels of oil per day, which is in line with expectations, President said in a company statement.

The rig used for the workover has now moved to workover the second of the previously producing wells, DP1001.

"A good start for the warm-up to the 2017 workover campaign where we have successfully broken in the rig provided by our new drilling contractor Quintana, with the new crew and field management team bedding in and working efficiently,” Peter Levine, President Energy chairman, said in a company statement.

“Pleasingly, no performance issues were experienced during drilling relating to the rig, crew or any other of President's contractors,” he added.



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