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Crown Point signs deal with San Antonio International for Argentine drilling operation

28th February 2014

Drilling contract with San Antonio International involves Crown Point supplying a drilling rig for a ten well drilling programme

The rig is set to arrive in Tierra del Fuego in March with drilling operations on the Las Violetas concession

Crown Point Energy Inc. has signed a drilling contract with San Antonio International to provide a drilling rig for an initial ten well drilling program in Tierra del Fuego, Argentina.

The rig is set to arrive in Tierra del Fuego in March with drilling operations on the Las Violetas concession expected to commence in early April. The term of the contract is one year with the option to extend.

The ten well program on the Las Violetas concession will be made up of eight development wells in the Los Flamencos gas pool and two exploration wells, one on the Puesto Quince prospect and another near the southern San Luis natural gas pool.

In March, Crown Point will be reapplying to participate in the New Gas Natural Gas Incentive program. This program provides financial incentives to producers who increase their natural gas operations.  

Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Calgary, Canada. The company’s exploration and development activities are focused in the Golfo San Jorge, Neuquen and Austral basins in Argentina.

San Antonio International is aprovider of integrated drilling, services and management to oil and natural gas companies. The company has 51 drilling rigs, 84 workover rigs, 47 pulling rigs and 2 barges in the Latin American market. They also provide E&P Services, such as pressure pumping services, which are designed to improve production from oil and natural gas wells.

 

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