GeoPark Ltd. announced in a press release the successful drilling and testing of the new Tigana 1 exploration well in the Llanos 34 block in the central Llanos basin in Colombia. GeoPark operates and has a 45% working interest in the Llanos 34 block.

GeoPark drilled and completed the Tigana 1 well to a total depth of 3,403 m (11,165 ft), according to the release. A test conducted with an electrical submersible pump in the Guadalupe formation, at approximately 3,185 m (10,449 ft), resulted in a production rate of approximately 1,469 b/d of 15.1° API oiil, with a 0.8% water cut, through a choke of 10.7 mm and with wellhead pressure of 350 psi. Further production history will be required to determine stabilized flow rates and the extent of the reservoir. In addition, electric logging indicated the shallower Mirador formation to be a prospective oil reservoir for potential future development.

Tigana represents the fourth new oilfield discovery by GeoPark in the Llanos 34 block since acquiring the block in 2Q 2012 when it had no production or well history, according to the release. In addition to the Tigana oil field, discoveries by GeoPark on the Llanos 34 block are:

  • Max oil field. Discovered in May 2012 with two wells currently producing approximately 1,384 b/d gross of oil (623 b/d net of oil);
  • Tua oil field. Discovered in June 2012 with five wells producing approximately 6,064 b/d gross of oil (2,729 b/d net of oil); and
  • Tarotaro oil field. Discovered in June 2013 with four wells currently producing approximately 3,497 b/d gross of oil (1,573 b/d net of oil).

Total current production from the Llanos 34 block is approximately 10,945 b/d gross of oil (4,925 b/d net of oil) without including the new production from well Tigana 1, GeoPark said. (These figures also do not include other GeoPark producing assets outside of the Llanos 34 block in Chile, Colombia, Argentina, and Brazil.)

In addition, GeoPark has recently completed the drilling of a new exploration prospect on the Llanos 34 block with the well Tigana Sur 1, which will be tested in the following weeks in the Guadalupe and Mirador formations.