GeoPark Limited (GeoPark) (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, 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.
The Uaken gas field discovery in the shallow El Salto formation provides additional low-cost production and
creates a new gas play across the Fell block that can be tested in identified leads and prospects. In addition,
there are multiple wells in already discovered oil and gas fields within the Fell block that can be re-entered to
test this formation.
