GeoPark Limited has announced the successful drilling and testing of the Tigana 4 development well, at a rate over 3,200 bopd in Tigana oil field in the Llanos 34 Block (GeoPark-operated, with a 45% working interest) in Colombia.

GeoPark drilled and completed the Tigana 4 well to a TD of 11,150 ft. A test conducted with an electric submersible pump in the Guadalupe formation resulted in a production rate of approximately 3,200 bopd of 15.3 degrees API, with less than 1% water cut, through a choke of 44/64 mm, and wellhead pressure of 100 psi. Additional production history will be required to determine stabilized flowrates of the well. Surface facilities are in place and the well is already on production.

The Tigana 4 well was drilled to TD in 9.5 days with an estimated drilling and completion cost of $ 3.3 million. At current oil prices and production rates, this well is expected to have a payback in less than six months and an IRR greater than 500%. Tigana oil field, discovered by GeoPark in December 2013, has a current production rate of approximately 15,000 bopd gross from eight wells that have produced over 10 MMbbl of oil, to date. The field has attractive reservoir properties (porosity of 20-25% and permeability of 0.5-2.0 darcys) and high estimated recoveries in excess of 2 MMbbl/well. For example, the Tigana Sur 1 and Tigana Norte 1 wells have already accumulated over 2.9 and 2.0 MMbbl of oil each.

Tigana is along the same trend and fault line as the expanding Jacana field. GeoPark is currently drilling the Jacana 6 appraisal well to test the southwest extension of the field – and its drilling campaign will continue with two to three additional wells in the Llanos 34 Block before the end of the year .

Source: www.worldoil.com