Drilling & Completions | Drilling / Well Results | Key Wells | Initial Production Rates | Drilling Activity

GeoPark Touts Latest Well Results in Brazil, Chile

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   |    Monday,June 03,2019

GeoPark Ltd. reported an update on its operations including a two new discoveries.

Brazil Oil Field Discovery

GeoPark drilled and completed the Praia dos Castelhanos 1 exploration well in the REC-T-128 block (GeoPark operated, 70% WI) to a total depth of 8,431 feet. A production test in the Agua Grande formation resulted in a production rate of approximately 300 bopd of 34 degrees API, with no water. Long-term testing is expected to begin in the coming weeks. Additional production history is required to determine stabilized flow rates and the extent of the reservoir.

Exploration drilling in Brazil is expected to continue during 3Q2019 with the drilling of an exploration well in the POT-T-747 block (GeoPark operated, 70% WI), in the mature, onshore Potiguar basin.

Chile Gas Discovery

GeoPark drilled and completed the Jauke 2 gas well in the Fell block (GeoPark operated, 100% WI) to a total depth of 9,701 feet to the Tobifera formation which is deeper than the formation currently under production. A production test resulted in an average production rate of 5.9 million standard cubic feet of gas per day (988 boepd) with a wellhead pressure of 1,646 pounds per square inch.

Additional production history is required to determine stabilized flow rates of the well and the extent of the reservoir. Surface facilities are already in place, the well is in production, and the gas is being sold to Methanex.

Additional drilling is expected during 2H2019 to continue developing and delineating the large Jauke/Dicky geological structure.