By OGJ editors
HOUSTON, Nov. 19 -- GeoPark Holdings Ltd., Buenos Aires, has added an oil well in Guanaco field on the Fell block in the Magallanes basin in Chile, where it holds 100% working interest.
Guanaco-6 went to 2,760 m and flowed at 1,578 b/d of oil on a 12-mm choke with 654 psi wellhead pressure from a 12-m perforated interval in Lower Cretaceous Springhill sandstone at 2,551 m. Projected rate is 600-800 b/d. The well is on production.
GeoPark said well results and preliminary interpretation of available seismic data provide evidence that the Guanaco structure covers 6 sq km with a preliminary internal estimate of 6-7 million bbl of proved and probable reserves, 3-4 million bbl higher than previous estimates. Multiple drilling opportunities are evident.
The field is in the south-central part of the block, and a 3D seismic survey shot this year suggests the possibility of finding traps and more resources south of the Guanaco structure, GeoPark said.
Meanwhile, the company will run a hydraulic frac stimulation on Springhill in the Dicky-18 well after it flowed at low initial rates.