GeoPark makes Chilean discovery

Chile's Gary Medel, right, followed by teammate Jose Pedro Fuenzalida, celebrates after scoring during a World Cup 2010 qualifying soccer match against Bolivia in La Paz, Sunday, June 15, 2008. (AP Photo/Roberto Candia)

Celebrate: GeoPark has made a new field discovery in Chile

AP Photo/Roberto Candia

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Josh Lewis

 25 February 2013 08:26 GMT

London-listed GeoPark Holdings has discovered a new gas field on the Tranquilo Block, onshore Chile.

The Palos Quemados-1 wildcat was drilled to a depth of 1600 metres and flowed at a rate of about 4 million  cubic feet per day during testing through a 10 millimetre choke.

In a statement on Monday, GeoPark said further production history would be needed to determine stabilised flow rates and the extent of the reservoir.

"The result from this new gas field discovery in Palos Quemados is significant because it confirms the exploratory potential and prospectivity of the western part of the Magallanes basin where additional opportunities have been identified,” GeoPark…

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