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News Breaks
April 9, 2014
08:05 EDTGPRKGeoPark announces new oil discovery in Colombia
GeoPark announced the successful drilling and testing of the new Aruco 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 Aruco 1 well to a total depth of 10,705 feet. A test conducted with an electrical submersible pump in the Guadalupe formation, at approximately 10,075 feet, resulted in a production rate of approximately 1,154 gross barrels of oil per day of 16.8 API, with approximately 4.8% water cut, through a choke of 42/64 inches and well head pressure of 193 pounds per square inch. Further production history will be required to determine stabilized flow rates and the extent of the reservoir.
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July 21, 2015
08:05 EDTGPRKGeoPark reports Q2 oil and gas production 19,575 boepd
Oil and gas production reached 19,575 boepd in 2Q2015 led by continuing production growth in Colombia, stable production in Brazil and declining production in Chile impacted by no new wells being drilled during 1H2015. GeoPark's drilling campaign restarted in June 2015 with two rigs drilling two new exploration prospects in Colombia. Oil production in Llanos 34 Block achieved record production of 27,000 bopd gross by the end of 2Q2015. Construction of facilities underway for Ache Gas Project in Fell Block in Chile with an expected start-up in 4Q2015. Surface compression plant completed in the Manati Field in Brazil with expected start-up in 3Q2015. Continuing cost reduction efforts underway. Cash costs reduction of 33% realized during 1Q2015. As announced in January 2015, GeoPark is carrying out a fully-funded $60-70 million work and investment program for 2015 based on an average oil price assumption of $45-50 per barrel. This program is subject to adjustment with changes in oil prices and opportunities developed through the lower cost environment. During the first half of the year with no drilling activity, GeoPark has maintained its production levels. During the second half of the year, drilling operations have been resumed and investment activities increased.

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