GeoPark, Hocol Announce Second Llanos 123 Exploration Success

GeoPark, a leading Latin American oil and gas explorer, operator and consolidator, and Ecopetrol Group company Hocol have confirmed a new exploration success in the Toritos 1 well in the Llanos 123 Block. This block, in which each partner has a 50% stake, is operated by GeoPark and is in Meta department.

The Toritos 1 well was drilled in a rural area of Cabuyaro municipality and reached total depth in September, finding oil in the Barco (Guadalupe) and Gachetá formations. Production tests are currently underway and the well is producing approximately 1,400 barrels of oil per day of 14 degrees API from the Barco (Guadalupe) formation, with a 1% water cut.

This is the second exploration success in the Llanos 123 Block. The first was last August at the Saltador 1 well, which is producing approximately 765 barrels of oil per day of 16 degrees API from the Barco (Guadalupe) formation with a 3% water cut. In total, Llanos 123 net production is more than 2,100 barrels of oil per day.

Bearing the positive results in mind and subject to approvals, GeoPark and Hocol are analyzing a new exploration well – Bisbita Centro 1 – which would target an exploration prospect south of Saltador 1 and is expected to be drilled early in the fourth quarter of 2023.

These exploration successes reaffirm GeoPark and Hocol’s commitment to the growth strategy in the five Llanos Basin exploration blocks that they were jointly awarded by the National Hydrocarbons Agency in the 2019 Permanent Area Allocation Process.

ABOUT GEOPARK

GeoPark is a leading Latin American oil and gas exploration and production company with assets in Colombia, Ecuador, Chile and Brazil, and which has been listed on the New York Stock Exchange since 2014. It is the second largest oil producer in Colombia with almost 8% of the country’s total production. Since it was founded GeoPark has had an Integrated Values System called SPEED that summarizes its commitment in five critical areas: Safety, Prosperity, Employees, Environment and Community Development. SPEED has been key for GeoPark in attracting the best talent, being the preferred partner and the best neighbor, and developing a successful, safe and sustainable operation. For more information: conexiones@geo-park.com

ABOUT HOCOL

With more than 67 years in hydrocarbons exploration and production activities and having brought together the experience and knowledge of several national and international owners, Hocol is a company that now focuses on being pioneers, working with a human approach and creating reliable relationships with its stakeholders. For more information: david.parra@hocol.com.co