GeoPark makes oil discovery on Llano...

GeoPark Ltd. made an oil discovery along the third and most western major fault trend on Colombia’s Llanos 34 block, potentially opening a new play, it said. 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.

The Guaco 1 well was drilled to 11,936 ft TD. Like 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 960 b/d of oil, 24.6° API, 0.3% water cut, through a 35/64-in. choke at 50 psi wellhead pressure.

Surface facilities are in place and the well is in production. The Guaco discovery marks the 14th oil field discovered and put into production by GeoPark since acquiring Llanos 34.

GeoPark is operator of the 82,000-acre Llanos 34 block and holds 45% interest.