GeoPark asserted the successful drilling and testing of Uaken 1 exploration well in Chile

Independent Latin American oil and gas explorer, operator, GeoPark proclaimed the the affirmative drilling and testing of the Uaken 1 exploration well in the Fell block in Chile to a total depth of 3,658 feet. A production test through different chokes in El Salto formation resulted in an average production rate of 0.8 million standard cubic feet per day of gas (or 125 boepd) with a wellhead pressure of 158 pounds per square inch. The well is already in production. GeoPark has a long-term  contract to sell gas to the large Methanex methanol plant located approximately 100 kilometers from the Fell block which is connected by a pipeline.

The Uaken gas field discovery in the shallow El Salto formation provides additional low-cost production and creates a new gas play across the Fell block that can be tested in identified leads and prospects. There are also multiple wells that can be re-entered to test this formation in already existent oil and Gas fields.