Location Province of Salta, Argentina
Schedule 2015 - 2019
Exploration in the Province of Salta, Argentina
- New Times Energy holds 50% interest in the concession.
- High Luck Group Limited (HLGL) is the operator of the Chirete concession.
- Acreage: 1,793km2
- Net Prospective Resources: 7.1 millions of barrels of oil equivelent.
- Nov 2019
Commercial crude oil production
- Oct 2019
Commissioning of the crude oil fields
- Apr to Aug 2019
Surface facility development
- Mar 2019
Extended well test of HLG.St.LB.x-2001
- Dec 2018
Discovery of crude oil at HLG.St.LB.x-2001
- Sep 2018
Spudding of HLG.St.LB.x-2001
- Jul 2017
Application for the extension of the Third Exploratory Period until 18 November 2018 submitted to local authority.
- Jun 2017
Consensus reached with concession partner for the exploratory drilling of LB x-2001 well, on the same structure approximately 2.9 kilometers from LB x-1002 well. Estimated potential pay zone of approximately 100 meters.
- Feb 2016
Completed exploration drilling of LB x-1002 well. Oil shows confirmed. Further studies and drillings to determine economic viability required.
- Nov 2015
Exploration well spudded and drilled to total depth of 2,910 meters. Economic viability being assessed.
- Apr 2015
50% farm-in offer made in consideration to drill, log, test and complete an exploration well.