GeoPark Holdings Ltd. announced exploration discoveries in its recently-acquired Colombian properties.
Exploration well Max 1 is testing approximately 1,220 barrels of oil per day (b/d) of approximately 15° API oil, with a basic sediment and water (BS&W) cut of 18%, from the Guadalupe formation with an electrical submersible pump. Further testing will be required to determine expected and stabilized production rates.
Drilling was completed in March to a total depth of 3,507 m (11,505 ft) and the Gacheta, Guadalupe and Mirador formations were tested during May to July 2012 with the following summary results: Gacheta, on a 35-hour production test through natural flow, the well produced at a rate of 149 barrels of fluid per day (bfpd), with approximately 0.1% BS&W for an average production rate of 149 b/d of 35.8° API oil.
On a 9.5-hour swabbing production test, the Guadalupe well produced at a rate of 323 bfpd, with approximately 6% BS&W for an average production rate of 304 b/d of 14.8° API oil. On a 13.5-hour swabbing production test, the well produced at a rate of 299 bfpd with approximately 10% BS&W, for an average production rate of 276 b/d of 14° API oil.
On a 26-hour production test with a jet pump, the Mirador well produced at a rate of 637 bfpd with approximately 75% BS&W, for an average production rate of 159 b/d of 22.8° API oil.
Exploration well Tua 1 in the Tua oil field is currently testing approximately 1,723 b/d of 18.2° API oil, with a BS&W of less than 0.5%, from the Mirador formation by ESP. Further testing will be required to determine expected and stabilized production rates.
Drilling was completed in June to a total depth of 3,349 m (10,986 ft) and the well was tested during June and July in the Guadalupe and Mirador formations, with the following summary results: On a 12-hour production test by natural flow, the Guadalupe formation well produced at a rate of 366 bfpd, with less than 1% BS&W (measured at the end of the test) for an average production rate of 362 b/d of 12.8° API oil.
On a 52-hour production test, the Mirador formation well produced at a rate of 1,732 bfpd, with less than 0.5% BS&W, for an average production rate of 1,723 b/d of 18.2° API oil.
The company also reported exploration well Maniceño 1 in Block Llanos 32 was put into production in July at an initial rate of approximately 3,000 b/d of 28° API oil. Exploration well Samaria 1 completed drilling in June with potential oil pay in the Mirador, Guadalupe, and Gacheta formations. Testing is expected to begin in July.
Exploration well Mapora 1 in Block Llanos 17 completed drilling in June. Log analysis indicated that the well had no potential oil pay and will be plugged and abandoned. Exploration well Celeus 1 completed drilling in April with potential oil pay in the C7 and Gacheta formations. Testing is expected to be carried out in July.
