GeoPark Ltd. (NYSE: GPRK) has made a new oil field discovery in the Jacana oil field located on Colombia’s Llanos 34 Block, the company said in a news release.
The Jacana 1 exploration well drilled to a total depth of 10,900 ft. Both the Guadalupe and Mirador formations had indications of hydrocarbons during drilling and from electric log interpretation, GeoPark said in the release. A test conducted with an electrical submersible pump in the Guadalupe formation, at about 10,200 feet, resulted in a production rate of about 1,880 barrels of oil per day of 14.9 degree API. Water cut was about 1.9%.
Further production history is required to determine stabilized flow rates of the well and the extent of the field, the release said.
The Jacana Field is located southwest of the Tigana oil field, following the same fault trend, and appears to be a combination structural-stratigraphic trap, GeoPark said. The company is the operator and has a 45% working interest in the Llanos 34 Block.
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