GeoPark Announces Exploration Success at Confluencia Norte
GeoPark announces successful production start at the Confluencia Norte Block in Rio Negro, Argentina, where it holds a 50% non-operated working interest. The block's first pad of three unconventional wells began production in mid-October, confirming Vaca Muerta formation presence. The development includes a vertical pilot well and three horizontal wells with 3,000 meters of lateral extension, reaching 6,300 meters total measured depth. Current gross production is 4,000 bopd during flowback and testing, with peak production expected within 90 days. Partner Phoenix Global Resources completed 228 km² of 3D seismic data acquisition and plans four additional wells as part of its commitment.
GeoPark annuncia l'avvio della produzione con successo nel Confluencia Norte Block a Rio Negro, Argentina, dove detiene un interesse di lavoro non operativo del 50%. Il primo pad del blocco, composto da tre pozzi non convenzionali, ha iniziato la produzione a metà ottobre, confermando la presenza della formazione Vaca Muerta. Lo sviluppo include un pozzo pilota verticale e tre pozzi orizzontali con un'estensione laterale di 3.000 metri, raggiungendo una profondità totale misurata di 6.300 metri. La produzione lorda attuale è di 4.000 bopd durante il recupero e i test, con un picco di produzione previsto entro 90 giorni. Il partner Phoenix Global Resources ha completato l'acquisizione di dati sismici 3D su 228 km² e prevede quattro pozzi aggiuntivi come parte del suo impegno.
GeoPark anuncia el inicio exitoso de la producción en el Bloque Confluencia Norte en Río Negro, Argentina, donde posee un interés de trabajo no operativo del 50%. El primer pad del bloque, que consta de tres pozos no convencionales, comenzó la producción a mediados de octubre, confirmando la presencia de la formación Vaca Muerta. El desarrollo incluye un pozo piloto vertical y tres pozos horizontales con una extensión lateral de 3,000 metros, alcanzando una profundidad total medida de 6,300 metros. La producción bruta actual es de 4,000 bopd durante el flujo y las pruebas, con un pico de producción esperado en 90 días. El socio Phoenix Global Resources completó la adquisición de datos sísmicos 3D en 228 km² y planea perforar cuatro pozos adicionales como parte de su compromiso.
GeoPark는 아르헨티나 리오네그로의 콘플루엔시아 노르트 블록에서 성공적으로 생산 시작을 발표했으며, 해당 블록에서 50%의 비 운영 작업 지분을 보유하고 있습니다. 블록의 첫 번째 패드에는 세 개의 비전통적인 우물들이 있으며, 10월 중순에 생산을 시작해 바카 무에르타 형성의 존재를 확인했습니다. 개발에는 수직 파일럿 우물과 3,000미터의 수평 우물 세 개가 포함되어 있으며, 총 측정 깊이는 6,300미터에 이릅니다. 현재 총 생산량은 흐름 및 테스트 동안 4,000 bopd이며, 90일 이내에 생산 피크가 예상됩니다. 파트너인 Phoenix Global Resources는 228㎢의 3D 탄성파 탐사 데이터를 취득했으며, 추가로 네 개의 우물을 계획하고 있습니다.
GeoPark annonce le démarrage réussi de la production dans le Bloc Confluencia Norte à Río Negro, en Argentine, où elle détient un intérêt de travail non exploité de 50%. Le premier pad du bloc, qui comprend trois puits non conventionnels, a commencé la production à la mi-octobre, confirmant la présence de la formation Vaca Muerta. Le développement comprend un puits pilote vertical et trois puits horizontaux avec une extension latérale de 3 000 mètres, atteignant une profondeur totale mesurée de 6 300 mètres. La production brute actuelle est de 4 000 bopd pendant le retour d’écoulement et les tests, avec un pic de production prévu dans 90 jours. Le partenaire Phoenix Global Resources a complété l'acquisition de données sismiques 3D sur 228 km² et prévoit quatre puits supplémentaires dans le cadre de son engagement.
GeoPark kündigt den erfolgreichen Produktionsstart im Confluencia Norte Block in Río Negro, Argentinien, an, wo es einen nicht operativen Arbeitsanteil von 50% hält. Das erste Pad des Blocks, das aus drei unkonventionellen Bohrungen besteht, begann Mitte Oktober mit der Produktion und bestätigte die Anwesenheit der Vaca Muerta-Formation. Die Entwicklung umfasst einen vertikalen Pilotbohr und drei horizontale Bohrungen mit einer seitlichen Ausdehnung von 3.000 Metern und einer Gesamttiefe von 6.300 Metern. Die aktuelle Brutto-Produktion liegt bei 4.000 bopd während des Flowbacks und der Tests, wobei ein Produktionspeak innerhalb von 90 Tagen erwartet wird. Der Partner Phoenix Global Resources hat 228 km² an 3D-Seismikdaten akquiriert und plant vier weitere Bohrungen im Rahmen seines Engagements.
- Initial production of 4,000 bopd from new wells
- Successful confirmation of Vaca Muerta formation presence
- Completion of high-intensity fracturing program across 135 stages
- Acquisition of 228 km² of 3D seismic data
- Four additional wells planned in upcoming drilling program
- None.
Insights
The successful exploration results from the Confluencia Norte Block represent a significant milestone for GeoPark's Vaca Muerta operations. The initial production rate of 4,000 bopd from three horizontal wells is impressive for early-stage flowback, with peak production expected within 90 days. The 3,000-meter lateral extensions and 135-stage fracturing program demonstrate advanced technical execution.
The exploration success de-risks GeoPark's 50% working interest position in the block and validates the westward extension of the productive Vaca Muerta formation. The completion of 228 km² of 3D seismic data acquisition will help optimize future well placement and development strategy. With four additional wells planned, there's significant potential for production growth in this asset.
The partnership with Phoenix Global Resources provides operational synergies and shared infrastructure through the Mata Mora Norte Block facilities, which should help optimize costs and accelerate development.
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 (GeoPark non-operated,
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 GeoPark are working closely to expand the exploration and development of these assets.
Andrés Ocampo, Chief Executive Officer of GeoPark, said: “The start of production at The Confluencia Norte Block in Rio Negro Province is a significant milestone, marking our first major exploration achievement in Vaca Muerta and validating the immense potential that underpinned our entry into this world-class basin. This success showcases the strength of our partnership with Phoenix Global Resources and the powerful combination of our operational, technical, and financial expertise. Together, we are committed to systematically de-risking and unlocking the vast resources in Vaca Muerta, creating substantial long-term value for our shareholders and stakeholders.”
NOTICE
Additional information about GeoPark can be found in the Invest with Us section of the website at www.geo-park.com.
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
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INVESTORS:
Maria Catalina Escobar
Shareholder Value and Capital Markets Director
mescobar@geo-park.com
Miguel Bello
Investor Relations Officer
mbello@geo-park.com
Maria Alejandra Velez
Investor Relations Leader
mvelez@geo-park.com
MEDIA:
Communications Department
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Source: GeoPark Limited
FAQ
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