Latin American oil and gas explorer GeoPark, in partnership with Phoenix Global Resources (PGR), has commenced production at the Confluencia Norte Block of the Vaca Muerta formation in Rio Negro, Argentina.
This collaboration has led to the de-risking of the Vaca Muerta formation. GeoPark holds a 50% non-operated WI in the Confluencia Norte Block.
A comprehensive fracturing programme across 135 stages has been implemented, yielding a current gross production rate of 4,000 barrels of oil per day (bopd) during the flowback and testing phase.
The oil produced is being transported to and marketed through the Mata Mora Norte Block facility.
The first pad, consisting of three unconventional wells, began production in mid-October, confirming the Vaca Muerta formation's presence at the block's westernmost edge.
The operation included a vertical pilot well for data acquisition and three horizontal wells with a combined measured depth of 6,300m and a lateral extension of 3,000m.
The wells are in the process of cleaning up and are due to reach peak production within 90 days from the start of production.
The early results indicated that the block's petrophysical properties are on par with those of the adjacent Mata Mora Norte Block, where GeoPark also holds a 45% WI.
Further exploration efforts are under way, with PGR having completed the acquisition of 228km² of 3D seismic data in the Confluencia Norte and Sur blocks.
The data is currently being interpreted and will inform the drilling of four additional wells, fulfilling PGR's exploration commitment to the project.
GeoPark CEO Andrés Ocampo said: “The start of production at the Confluencia Norte Block in Rio Negro Province is a significant milestone, marking our first major exploration achievement in Vaca Muerta and validating the immense potential that underpinned our entry into this world-class basin.
“This success showcases the strength of our partnership with Phoenix Global Resources and the powerful combination of our operational, technical and financial expertise. Together, we are committed to systematically de-risking and unlocking the vast resources in Vaca Muerta, creating substantial long-term value for our shareholders and stakeholders.”
