Vista Oil & Gas announces results of its first 2 wells in the Lower Carbonate
landing zone of Vaca Muerta in Bajada del Palo Oeste, and provides an operational update
Mexico City, January 5, 2021 Vista
Oil & Gas, S.A.B. de C.V. (Vista or the Company) (NYSE: VIST; BMV: VISTA) announced today successful results in wells MDM-2025h and
MDM-2027h corresponding to pad #4 in Bajada del Palo Oeste.
Wells
MDM-2025h and MDM-2027h were the first 2 wells of the Company in the Lower Carbonate landing zone of Vaca Muerta, consisting of 2,186 meters of lateral length with 26
completion stages, and 2,551 meters of lateral length with 31 completion stages, respectively. The Lower Carbonate is the third Vaca Muerta landing zone drilled by Vista in Bajada del Palo Oeste, as the previous 12 wells, in pads #1 to #3, had been
landed in La Cocina and Orgánico.
After 70 days of production, the cumulative production on a normalized basis of the MDM-2025h and MDM-2027h wells was 27% and 32% above Vistas type curve (consisting of 2,800 meters lateral length, 47 completion stages), respectively -see Figure 1 below-. Peak IP-30 was 1,224 bbl/d of crude oil (1,390 boe/d) for MDM-2025h and 1,537 bbl/d of crude oil (1,746 boe/d)
for MDM-2027h.
Figure 1 Cumulative production of wells MDM-2025h and MDM-2027h normalized to 47 completion stages
The results of these two wells confirm the potential of the Lower
Carbonate landing zone of Vaca Muerta in Bajada del Palo Oeste as an economical shale oil play. The petrophysical analysis in Bajada del Palo Oeste shows that the Lower Carbonate has an average total organic content of 5.2%, an average total
porosity of 12.7% and an average water saturation of 26%, which are similar characteristics to those of the Orgánico landing zone. According to our geological model, this could add up to 150 new wells to our existing drilling inventory of 400
wells in Bajada del Palo Oeste, for a total of up to 550 wells.
In pad #4 we also landed 2 wells in La Cocina. During the completion of pad #4 we have
not observed connectivity between the Lower Carbonate and La Cocina. This fact suggests the reservoirs of such landing zones are isolated, which provides greater flexibility in the development of Bajada del Palo Oeste.