GeoPark has drilled and completed the Jauke Oeste 1 exploration well to a total depth of nearly 9,596ft
Oil and gas exploration company GeoPark has discovered the new Jauke Oeste gas field in the Fell block in Chile.
The Jauke Oeste gas field is located nearly 1km north of the Jauke gas field that currently produces about 8.4 million standard cubic feet per day (Mcfd) from two wells, which is equivalent to 1,400 barrels of oil equivalent per day (boed).
GeoPark owns and operates 100% working interest in the Fell block.
The company stated that it drilled and completed the Jauke Oeste 1 exploration well to a total depth of nearly 9,596ft and a production test in the Tobifera formation resulted in an average production rate of 4.4Mcf/d of gas. The test also resulted in 52 bopd of condensate with a wellhead pressure of 3,141 pounds per square inch.
According to GeoPark, additional production history is needed to decide the stabilised flow rates of the well in addition to the reservoir extent.
GeoPark CEO James Park said: “Congratulations and thanks again to GeoPark’s creative exploration team for continuing to open up new geological plays and build on our steadily expanding production, reserve and resource base.”
GeoPark will carry out additional exploration activities in Chile during Q1 2020
Latin American oil and gas explorer will perform additional exploration activities in Chile during the first quarter of this year, with oil prospects as the main focus.
GeoPark will spud the Leun 1 exploration well in the Flamenco block this month, followed by the Huillin 1 exploration well in the Isla Norte block and the Koo 1 exploration well in the Campanario block.
GeoPark stated that it anticipates the 2019 independent reserves certification release during the first half of this month.
Last month, GeoPark completed the acquisition of UK-based Amerisur Resources.
The acquisition, which was announced in November last year, was completed for a cost of $314m.
Last September, GeoPark had announced the discovery of a new Guaco oil field in the Llanos 34 block in Colombia.