(GeoPark, 12.Nov.2024) — GeoPark announces the achievements made in 2024 together with its partner Hocol, a subsidiary of the Ecopetrol Group, in the joint exploration of the Llanos 86, Llanos 87, Llanos 104, Llanos 124 and Llanos 123 blocks in the Llanos basin, Colombia.
Llanos 123 Block discoveries and delimitation campaign
Discoveries made since Aug. 2023 in the Llanos 123 Block in Meta department, associated with the Saltador-1, Toritos-1 and Bisbita wells, have continued to be delineated:
- Toritos Norte 01, an advanced well, began a short test in the first half of 2024 and found oil in the Barco formation. By end-Oct. 2024 it reported extensive test production of 326 b/d.
- In the second half of 2024 three step-out wells – Toritos 02, Toritos Sur 01 and Bisbita Este 01 – were drilled as part of the delineation campaign. All three registered production while testing the Barco formation:
- Toritos-02 started production in early Aug. 2024, and had 757 b/d test production at end-Oct.
- Toritos Sur-01 started production on an extended trial in Sep. 2024, registering 426 bopd test production at end-October
- Bisbita Este-01 started production in Oct. 2024 and increased to 405 b/d at month-end.
Production from the Llanos 123 Block reached 3,950 b/d gross at end-Oct. 2024.
In the second half of 2024, the partners have continued drilling the block to continue outlining the play and define its potential.
- Saltador 2: currently drilling. Production tests are expected to begin in mid-Nov.
- Toritos Sur 2: currently drilling. Production tests are expected to begin at end-Nov.
Third largest seismic acquisition in Colombia
A major milestone in the joint development of the partners’ Llanos basin blocks was the acquisition in the first half of the year of 653 km2 of 3D seismic in the Llanos 86 and Llanos 104 Blocks, in Meta department.
This project, Colombia’s third largest seismic acquisition ever, created almost 1,000 local jobs and totaled more than one million hours worked without accidents or environmental incidents, demonstrating both companies’ operational excellence and safety, and their commitment to social development and environmental care.
The Llanos 86 and Llanos 104 Blocks are adjacent to the CPO-5 Block (operated by ONGC and in which GeoPark has a 30% non-operated interest) where the Indico field, one of Colombia’s 10 highest-producing fields, is located. GeoPark and Hocol expect to add more prospects to their exploration inventory after processing the seismic, and to start drilling in 1Q2025.
Andrés Ocampo, Chief Executive Officer of GeoPark said: “The positive results obtained in the exploration blocks that we have been developing with Hocol since 2019 are proof of the strength of our partnership and the success of our technical teams in continuing to identify low-risk exploration objectives and unlock the potential of these promising blocks in the Llanos basin.”
Luis Enrique Rojas, President of Hocol said: “This year, our efforts have been focused on delimiting these discoveries, which show the dedication, technical capacity and experience of both companies’ teams, underscore our interest in continuing the exploration campaign in this part of the Llanos basin, and indicate a promising future. This partnership between GeoPark and Hocol shows the importance of teamwork in getting good results, and should be an example for all oil and gas exploration and production companies and all industries in the country.”
In the coming weeks, the companies will announce their 2025 work plan, focused on continuing to incorporate more reserves and producing more oil to guarantee Colombia’s energy security and the prosperity of the areas where they work.
____________________
