GeoPark Limited (GeoPark) has announced the successful drilling and testing of the Jauke 1 exploration well in the Fell block (GeoPark operated, 100% WI) in Chile.
GeoPark drilled and completed the Jauke 1 exploration well to a total depth of 9,592 feet. A production test through different chokes in the Springhill formation resulted in an average production rate of 5.8 million standard cubic feet per day of gas (or 970 boepd) with a wellhead pressure of 2,738 pounds per square inch. Drilling and completion costs are estimated at USD 3.4M, and at current gas prices and testing rates, this well is expected to have a payback period of 6-7 months.
The Jauke gas field is part of the large Dicky geological structure in the Fell block – and has the potential for multiple development drilling opportunities.
The Jauke exploration effort is part of GeoPark’s 2018 overall 40-45 well drilling program in Colombia, Argentina, Brazil, and Chile – with five drilling rigs currently in operation.