GeoPark Ltd. said Sept. 23 it has discovered the Guaco oil field in the Llanos 34 Block in Colombia.
GeoPark drilled and completed the Guaco 1 exploration well located along the third and most western major fault trend in the Llanos 34 Block. This is the first oil discovery along this trend and potentially opens up a new play.
The well was drilled to a total depth of 11,936 ft. Similar to 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 about 960 barrels of oil per day, 24.6 degrees API, 0.3% water cut, through a choke of 35/64 inches and wellhead pressure of 50 pounds per square inch.
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. Surface facilities are in place and the well is already in production. The Guaco discovery represents the 14th oil field discovered and put into production by GeoPark since acquiring Llanos 34, an exploration block with zero production in 2012. GeoPark is operator of the block, holding a 45% working interest.
“Congratulations to GeoPark’s oil-finding team for continuing to look out beyond the prolific already-discovered producing oil fields and formations to search for and discover new opportunities,” said GeoPark CEO James F. Park. “This result underscores the exciting potential still remaining in the Llanos Basin and the attractiveness of GeoPark’s recently-acquired exploration blocks surrounding Llanos 34.”
Recommended Reading
ChampionX Releases New Plunger Lift Well Solution
2024-09-13 - The SMARTEN Unify control system is the first plunger lift controller in ChampionX’s SMARTEN portfolio.
Tidewater Midstream Completes $122MM Strategic Transaction
2024-09-13 - Tidewater Midstream and Infrastructure purchased assets from its renewables-focused subsidiary Tidewater Renewables.
Francine Closes, Restricts Oil Export Ports, Shuts in 42% of GoM Oil
2024-09-13 - In addition to hampering ports and refineries, an estimated 41.74% of Gulf of Mexico oil production, or 730,472 bbl/d, has been shut in.
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
2024-09-13 - The oil and gas rig count rose by eight in the week to Sept. 13 to 590, returning to mid-June levels. The increase was the biggest since the week to Sept. 15, 2023.
HNR Increases Permian Efficiencies with Automation Rollout
2024-09-13 - Upon completion of a pilot test of the new application, the technology will be rolled out to the rest of HNR Acquisition Corp.’s field operators.