GEOPARK UNVEILS FIRST QTR 2018 OPERATIONAL UPDATE.
GeoPark Limited has unveiled its operational update for the three-month period ended March 31, 2018 (1Q2018).
First Quarter 2018 Highlights
28% Growth in Oil and Gas Production
- Consolidated oil and gas production up 28% to 32,195 boepd (up 5% compared to 4Q2017)
- Oil production increased by 33% to 27,345 bopd (up 8% compared to 4Q2017)
- Colombian oil production increased by 37% to 26,303 bopd (up 8% compared to 4Q2017)
- Gas production increased by 3% to 29.1 mmcfpd (down 9% compared to 4Q2017)
- Current production of 35,000 boepd, including new production from Argentina acquisition
- Continued Drilling and Operational Successes
Tigana Norte 6, Tigana Norte 7 and Jacana 20 development wells drilled, tested and put on production, adding approximately 3,000 bopd gross in the Llanos 34 block (GeoPark operated, 45% WI), bringing current gross production to 58,000 bopd
Chachalaca Sur 1 exploration well, Tigana Norte 9 appraisal well, and Tigana Sur Oeste 5 and Jacana 21 development wells drilled and currently being tested
Coming catalysts: testing of four wells above, and drilling of seven new wells which include five development wells and one exploration well in the Llanos 34 block, and a new exploration well in the Tiple exploration acreage
Project to construct flowline to connect the Llanos 34 block to nearby regional pipeline underway
Uaken 1 exploration well, tested and put on production from a new shallow gas play in El Salto formation
New Argentina Project Closed and New Latin American Acquisition Partnership
Argentina: closing of low-cost, cash flow producing acquisition with development and exploration potential in the prolific Neuquen basin
Strategic Alliance: ONGC Videsh (India's national oil company) and GeoPark formed a long-term Latin American acquisition partnership for large-scale projects
For more information, visit www.geo-park.com or call +562 2242 9600.
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|Date:||May 1, 2018|
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