Page 12 - LatAmOil Week 06 2020

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GeoPark reports new gas find at Chile’s onshore Fell block
INDEPENDENT oil and gas explorer GeoPark has reported the discovery of new natural gas reserves at Jauke Oeste, a new field within Chile’s onshore Fell block.
The company holds a 100% stake in Fell and is working to increase production levels in the South American state. Jauke Oeste is in the Magallanes Basin in southern Patagonia, in the far south near Chile’s border with Argentina.
In its statement, GeoPark said that the Jauke Oeste 1 exploration well had been drilled and completed to a total depth of 9,596 feet (2,925 metres). During production testing, the well yielded an average of 4.4mn cubic feet (124,600 cubic metres) per day of gas and 52 barrels of gas condensate, it said.
More production testing will be needed to determine the well’s stabilised flow rate and the extent of the reservoir, the firm added.
James F. Park, the CEO of GeoPark, said that his company had continued to “open up new geological plays” and build on its “steadily” ris- ing production, reserve and resource base.
The Jauke Oeste gas field is located approx- imately 1 km north of Jauke, a gas field that is already in production. That site is currently yielding approximately 8.4 mmcf (237,900 cubic metres) per day of gas from two wells.
GeoPark stated that it intended to carry out additional oil exploration work in Chile in the first quarter of this year. Specifically, it said it was planning to spud the Leun 1 exploration well at the Flamenco block, the Huillin 1 exploration well at the Isla Norte block and the Koo 1 explo- ration well at the Campanario block.
New York-listed GeoPark is focused on Latin American projects. It has operations in
Colombia, Peru, Argentina, Brazil and Ecuador, as well as Chile.
Chile is currently producing only marginal volumes of oil and gas on its own, and its only producing region is the Magallanes Basin. The wealthy Latin American country imports around 165,000 barrels per day (bpd) of crude oil, and heavier, sweeter crudes that are between 25 and 28 degrees API account for most of these volumes. ™
GeoPark will continue exploration work in Q1-2020 (Image: GeoPark)
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