GeoPark Holdings Limited announce the successful drilling, testing and putting into production of two new oil wells in Colombia: Max 2 in the Max oil field in the Llanos 34 Block and La Cuerva CH NE 1 in the La Cuerva oil field in the La Cuerva Block. GeoPark operates both blocks – with a 45% working interest in Llanos 34 Block and a 100% working interest in La Cuerva Block.

GeoPark drilled and completed the Max 2 well to a total depth of 3,312 metres. A test conducted with an electrical submersible pump (“ESP”) in the Guadalupe formation, at approximately 3,100 metres, resulted in a production rate of approximately 1,532 barrels of oil per day (“bopd”) of 13.7 API oil, with less than a 1% water cut, through a choke of 19 millimetres (‘mm”) and well head pressure of 70 pounds per square inch (‘psi”). Further production history will be required to determine stabilized flow rates and the extent of the reservoir. Surface facilities are already in place and the produced crude oil is now being marketed and sold. The Max oil field was discovered in March 2012 with the Max 1 well, which is currently producing at a rate of approximately 1,031 bopd.

Tags: Geopark Holdings Ltd.