GeoPark Ltd., a leading independent Latin American oil and gas explorer, operator and consolidator, said Feb. 4 it has made a discovery in the new Jauke Oeste gas field in the Fell block (GeoPark operated, 100% WI) in Chile.
GeoPark drilled and completed the Jauke Oeste 1 exploration well to a total depth of 9,596 ft (2,924 m). A production test, through different choke sizes, in the Tobifera formation resulted in an average production rate of 4.4 million standard cubic feet per day of gas (MMcf/d)—or 729 barrels of oil equivalent per day (boe/d)—and 52 bbl/d of condensate with a wellhead pressure of 3,141 pounds per square inch. Additional production history is required to determine stabilized flow rates of the well and the extent of the reservoir. Surface facilities are in place, the well is in production, and the gas and condensate are already being sold to offtakers.
The Jauke Oeste gas field is located approximately 1 km north of the Jauke gas field, which is currently producing approximately 8.4 MMcf/d from two wells (or 1,400 boe/d). Jauke and Jauke Oeste gas fields are part of the large Dicky geological structure in the Fell block—opening the potential for multiple development drilling opportunities.
Additional exploration activities will be carried out in Chile during first-quarter 2020 with a focus on oil prospects. GeoPark will be spudding the Leun 1 exploration well in the Flamenco block (GeoPark operated, 100% WI) in February 2020, to be followed by the Huillin 1 exploration well in the Isla Norte block (GeoPark operated, 60% WI) and the Koo 1 exploration well in the Campanario block (GeoPark operated, 50% WI).
Recommended Reading
Gas Prices in a Summer of Discontent
2024-05-14 - In February, natural gas prices dropped below $2/MMBtu and stayed there. How is the market handling it, and when will the price pick back up?
Cheniere’s Next Corpus Christi LNG Stage Online by Year-end
2024-05-13 - Cheniere executives are optimistic the first LNG cargo will depart from Train 1 of its Corpus Christi Stage 3 project by the end of 2024, and that the company will bring all seven trains at the project online before the end of 2026.
What's Affecting Oil Prices This Week? (May 13, 2024)
2024-05-13 - For 2024, increasing supply will be more challenging unless U.S. producers start ramping up their capex and drilling programs beyond their current plans.
NextDecade Raises ‘Going Concern’ Doubts Amid Rio Grande LNG FID
2024-05-13 - NextDecade, which is developing the Rio Grande LNG project in Brownsville, Texas, highlighted “going concerns” amid plans to take a final investment decision on Phase 2 of the project by year-end 2024.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
2024-05-10 - Baker Hughes said oil rigs fell three to 496 this week, their lowest since November, while gas rigs rose one to 103.