ExxonMobil Corp. is to launch a Vaca Muerta pilot project that could lead to a staged development of about 300 horizontal wells with an estimated production of 11 million cu m/day once completed.
Argentina’s Neuquen province has approved the company’s 35-year development for Los Toldos I South Block 85 km northwest of Anelo and 175 km northwest of Neuquen City. Initial project investment is $200 million, said ExxonMobil Exploration Argentina SRL (EMEA), which will operate the block with 80% interest. Gas y Petroleo del Neuquen SA and Tecpetrol each hold 10%.
The initial investment calls for a pilot project that brings as many as seven wells to production, the construction of production facilities, and development of export infrastructure.
ExxonMobil holds six unconventional and one conventional block in Argentina’s Vaca Muerta shale. The company has invested $500 million in the region since entering the area in 2011.