GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced the discovery of the new Guaco oil field in the Llanos 34 block (GeoPark operated, 45% WI) in Colombia.
GeoPark drilled and completed the Guaco 1 exploration well located along the third and most western major fault trend in the Llanos 34 block. This is the first oil discovery along this trend and potentially opens up a new play. The well was drilled to a total depth of 11,936 feet. Similar to other Llanos 34 fields, it appears to be both a structural and stratigraphic trap. Oil shows during drilling and petrophysical analysis indicated the potential for hydrocarbons in both the Guadalupe and Mirador formations. A production test conducted with an electric submersible pump in the Guadalupe formation resulted in a production rate of approximately 960 barrels of oil per day, 24.6 degrees API, 0.3% water cut, through a choke of 35/64 inches and wellhead pressure of 50 pounds per square inch.
Brazil Energy Insight 
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