Latin American player GeoPark has discovered a new oilfield in the Llanos 34 block onshore Colombia.
GeoPark said it has drilled and completed the Guaco-1 exploration well, marking the first oil discovery along the third and most western major fault trend and the 14th oilfield discovered since the company acquired an interest in 2012.
Guaco-1 was drilled to a total depth of 11,936 feet, with oil shows indicating hydrocarbon potential in the Guadalupe and Mirador formations.
