Geopark brings Ovejero 2 well into production
08 October 2008
GeoPark Holdings has announced the successful testing and commencement of production from the new Ovejero 2 well on the Fell Block in Chile. GEOPARK operates and owns a 100% working interest in the Fell Block.
The well is now producing at a rate of approximately 2.5 million cubic feet per day (mmcfpd) of gas, 163 barrels per day (bpd) of oil. Further production history will be required to determine stabilised flow rates from the well and the extent of the reservoir.
To date in 2008, GEOPARK has successfully drilled and tested 7 new wells in Chile - including 4 new field discoveries. Six of these wells are now on production and the seventh well is targeted to begin production during November 2008.
Commenting, Gerald O'Shaughnessy, Chairman of GEOPARK, said:
'We are pleased with the results from the new Ovejero well which will add to our steady growth in production, revenues and reserves this year. The redefinition of the Ovejero field from our seismic interpretation demonstrates the value being added to our assets by our technical team.'
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