Minnows to take bet on onshore Uruguay9 November 2016
Two minnows are gearing up to begin exploring onshore Uruguay – a country with almost no history of oil and gas production. Sydney-based Petrel Energy and its 51%-owned partner-operator, Dallas-based Schuepbach Energy International, will drill four wells in the country’s Norte Basin from January 2017.
The wells will be drilled in the Salto and Piedra Sola concessions, which could contain as much as 88 billion cubic metres of gas and 910 million barrels of oil, according to an independent certification by Houston-based consultants Netherland, Sewell & Associates. The ratio of oil to gas in the certification is 62/38.
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