GeoPark sees potential at Guanaco in southern Chile

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.

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.

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