Explorer GeoPark discovers new gas in Fell block, Chile

Latin American oil and gas (O&G) explorer GeoPark has discovered a new Jauke Oeste gas field in the Fell block in Chile.

GeoPark owns and operates 100% working interest (WI) in the field.

Located approximately 1km north of the Jauke gas field, the Jauke Oeste gas field currently produces approximately 8.4 million standard cubic feet per day (Mcf/d) from two wells. This is equivalent to 1,400 barrels of oil equivalent per day (boe/d).

GeoPark said 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.

It also drilled 52boe/d of condensate at a wellhead with a flowing pressure of 3,141 pounds per square inch (psi).

According to the company, additional production history is needed to determine 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.”

The company will conduct 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, all in Chile.

Meanwhile, GeoPark stated that it anticipates the 2019 independent reserves certification release during the first half of this month.

Last month, GeoPark acquired the UK-based O&G producer and explorer Amerisur Resources for £242m ($314m) at an offer price of 19.21p for each share.