Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update
GeoPark's South American Ops Ramp Up Production 57%
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GeoPark Limited has reported its 2Q2014 operational update.
For the quarter ended June 30, 2014, GeoPark's oil and gas average production increased 57% to a record 20,441 boepd, compared to 2Q2013. Production increases were led by strong growth from GeoPark's Llanos 34 Block in Colombia and the start-up of production in the Company's Tierra del Fuego Blocks in Chile. The Company continues on-track to reach full year production targets.
In 2Q2014, a total of 13 new wells were drilled, consisting of seven wells in Chile and six wells in Colombia, of which ten were exploration wells and three were development and appraisal wells. These new wells are part of the total $220 million to $250 million work and investment program in 2014, which consists of drilling 50-60 wells.
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