GeoPark Announces Exploration Success at Confluencia Norte
The Confluencia Norte Block recently completed its first pad of three unconventional wells, which began production in mid-October. This development confirms the presence of the Vaca Muerta formation at the westernmost edge of the block. The pad includes a vertical pilot well, drilled specifically for data acquisition, along with three horizontal wells reaching a total measured depth of 6,300 meters, with 3,000 meters of lateral extension. A high intensity fracturing program was executed across 135 stages, resulting in a current gross production rate of 4,000 bopd during the ongoing flowback and well testing phase, with production currently being transported to and marketed through The Mata Mora Norte Block facility. The wells are still cleaning up and are expected to reach their peak production within 90 days of the production start, highlighting the block’s rich petrophysical properties, which are comparable to those found in the Mata Mora Norte Block (
As part of its exploration commitment in the Confluencia Norte and Sur blocks, PGR has completed the acquisition of 228 km² of 3D seismic data, which is currently undergoing interpretation. This data will be crucial in defining the upcoming drilling program, which includes a further four wells that PGR will drill as part of its commitment. PGR and
NOTICE
Additional information about
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including, the rich petrophysical characteristics of the Confluencia Norte Block, our drilling program and our creation of substantial long-term value for our shareholders and stakeholders. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20241111379637/en/
INVESTORS:
Shareholder Value and Capital Markets Director
mescobar@geo-park.com
Investor Relations Officer
mbello@geo-park.com
Investor Relations Leader
mvelez@geo-park.com
MEDIA:
communications@geo-park.com
Source: