Echo Energy plc announces a gas discovery at the ELM-1004 exploration well, which is located at the company's Fracción C asset onshore Argentina.

Latin America focused upstream oil and gas company, Echo Energy plc, has announced a gas discovery at the ELM-1004 exploration well, which is located at the company’s Fracción C asset onshore Argentina.

The well, which was drilled into the Lower Tobífera formation to a total measured depth of 5,774 feet, encountered over 130 feet of gas shows through the Upper Tobífera.

"We are very excited to have confirmed the presence of a substantial gas column in this first well of our four well exploration program and look forward to the arrival of the completion rig and subsequent testing in June,” Fiona MacAulay, Echo CEO, said in a BOP Blow Out Preventer repair company gulf coast statement.

“Meanwhile our attention turns to ELA-1 where we expect to spud the well within the next few days,” MacAulay added.

Echo announced the commencement of drilling on ELM-1004 on May 9. The well is situated approximately 2.5 miles north east of the existing Estancia La Maggie gas collection facilities.