GeoPark Limited,a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina, and Peru1, has announced the successful drilling and testing of the Jacana 4 development well in the Jacana oilfield in the Llanos 34 Block
(GeoPark operated with a 45% working interest) in Colombia.GeoPark drilled and completed the Jacana 4 development well to a total depth of 10 370 ft. A test conducted with an electric submersible pump in the Guadalupe formation resulted in a production rate of approximately 1950 bpd of 16 degrees API, with 1% water cut, through a choke of 40/64 mm and wellhead pressure of 70 lb per square in. Additional production history is required to determine stabilised flow rates of the well. Surface facilities are in place and the well is already in production.
The Jacana 4 well followed the recent successful Jacana 3 appraisal well, which extended the size of the Jacana field. Jacana 4 was drilled to TD in a record-time of 8.8 days at a total drilling and completion cost of US$2.9 million. At current oil prices, Jacana 4 is expected to have an IRR greater than 200% and a repayment period of less than six months (before year-end 2016).
GeoPark has identified approximately 40 - 45 additional drilling locations to fully develop the oil reserves in the Tigana and Jacana oilfields in the Llanos 34 Block.
For more information visit GeoPark online at www.geo-park.com
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25072016/geopark-announces-development-drilling-success-in-colombia/