News

March 17, 2009

GeoPark Maintains Its 90 Per Cent Strike Rate As It Readies Another Gas Well For Production In Chile

The production profile continues to move in the right direction for AIM-quoted GEOPARK Holdings, which exited 2008 ahead of its targeted year-end run rate. The company, which produces oil and gas in Chile and Argentina, ended the year with production of more than 6,500 barrels of oil equivalent per day, ahead of its 6,000 boepd guidance and up 180 per cent on its 2007 exit production. Now the company is about to bring another well onstream following the success of the Monte Aymond-33 well on its prolific Fell Block in southern Chile.

The well was drilled down to 2,391 metres in the northeast portion of the block and flowed 3.12 million cubic feet per day of gas and 22.6 barrels of condensate per day from a 13 metre perforated interval in the Springhill formation. The well also produced 34 bpd of water. The aim is to bring the well onstream in April, with the gas sold to the Methanex Corp methanol plant next door to GEOPARK’s 100 per cent owned Fell Block. 

This success comes hot on the heels of the...