GeoPark Announces New Gas Play Discovery in Chile - GeoPark
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GeoPark Limited (“GeoPark” or the “Company”) (NYSE: “GPRK”), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, today announced the successful drilling and testing of the Uaken 1 exploration well in the Fell block (GeoPark operated, 100% WI) in Chile.

GeoPark drilled and completed the Uaken 1 exploration well to a total depth of 3,658 feet. A production test through different chokes in El Salto formation resulted in an average production rate of 0.8 million standard cubic feet per day of gas (or 125 boepd) with a wellhead pressure of 158 pounds per square inch. Additional production history is required to determine stabilized flow rates of the well. Surface facilities are in place and the well is already in production. GeoPark has a long-term contract to sell gas to the large Methanex methanol plant located approximately 100 kilometers from the Fell block which is connected by a pipeline.

Read the full press release.