GeoPark Ltd. said Sept. 23 it has discovered the Guaco oil field in the Llanos 34 Block in Colombia.
GeoPark drilled and completed the Guaco 1 exploration well located along the third and most western major fault trend in the Llanos 34 Block. This is the first oil discovery along this trend and potentially opens up a new play.
The well was drilled to a total depth of 11,936 ft. Similar to other Llanos 34 fields, it appears to be both a structural and stratigraphic trap. Oil shows during drilling and petrophysical analysis indicated the potential for hydrocarbons in both the Guadalupe and Mirador formations.
A production test conducted with an electric submersible pump in the Guadalupe Formation resulted in a production rate of about 960 barrels of oil per day, 24.6 degrees API, 0.3% water cut, through a choke of 35/64 inches and wellhead pressure of 50 pounds per square inch.
Additional production history is required to determine the stabilized flow rates of the well and further appraisal and development drilling will be necessary to determine the extent of the field. Surface facilities are in place and the well is already in production. The Guaco discovery represents the 14th oil field discovered and put into production by GeoPark since acquiring Llanos 34, an exploration block with zero production in 2012. GeoPark is operator of the block, holding a 45% working interest.
“Congratulations to GeoPark’s oil-finding team for continuing to look out beyond the prolific already-discovered producing oil fields and formations to search for and discover new opportunities,” said GeoPark CEO James F. Park. “This result underscores the exciting potential still remaining in the Llanos Basin and the attractiveness of GeoPark’s recently-acquired exploration blocks surrounding Llanos 34.”
GeoPark Ltd., a leading independent Latin American oil and gas explorer, operator and consolidator, said Feb. 4 it has made a discovery in the new Jauke Oeste gas field in the Fell block (GeoPark operated, 100% WI) in Chile.
Hocol SA, Parex Resources Inc., Ecopetrol SA , Gran Tierra Energy Inc., Frontera Energy Corp. and a consortium comprised of GeoPark Ltd. and Hocol have all won at least one contract, the national hydrocarbons agency said in a presentation.
The so-called Intracampos blocks contain some 854 million barrels of oil and will require more than $1 billion in investment, the government says.