By OGJ editors
HOUSTON, Nov. 14 -- GeoPark Holdings Ltd., Hamilton, Bermuda, said it has become the first private company to produce oil and gas in southern Chile.
As operator of the 440,000-acre Fell Block, GeoPark is the only oil and gas company operating in Chile other than state Empresa Nacional de Petroleo (ENAP).
The company is producing 5.4 MMcfd of gas and 50 b/d of condensate from single wells in Molino, Ovejero, and Nika fields on the Fell Block in the Austral basin northwest of the Straits of Magellan. It is selling gas to the Methanex methanol plant at Tierra del Fuego, Argentina, and condensate to ENAP.
GeoPark plans to tie in Santiago Norte field in late 2006 and other fields in second quarter 2007.
A workover rig has been cleaning out more wells since September, and a drilling rig is due to arrive in first quarter 2007. A 650 sq km 3D seismic survey is under way on the Fell Block.
GeoPark holds 100% interest in the Fell Block, having acquired the last 10% interest from ENAP earlier this year.
The Fell Block in Chile and GeoPark-operated Cerro Dona Juana, Del Mosquito, Loma Cortaderal blocks in Argentina total more than 700,000 acres.
