According to official reports in late-April 2020, GeoPark has P&A'd the Huillin 1 new-field wildcat (NFW) on its Isla Norte block after encountering non-commercial oil at the total depth (TD) of 2,875 m (9,432 ft) in March 2020. The well was spudded in early-2020 with objective in conventional Springhill and Tobifera formations and planned investment of USD 2.16 million. GeoPark operates with 60% interest, joined by partner state company ENAP with the remaining 40%.  Isla Norte block covers 598.3 sq km of land in the Tierra del Fuego region of Magallanes Basin.  The block is currently in the second exploration period with commitment of drilling two exploratory wells by 7 November 2020. Beside Huillin 1, GeoPark has also filed an EIA with the Chilean environmental regulator SEIA to drill the Koo X1 exploration well with the same objective and planned investment of USD 0.76 million. However, the company has reduced its 2020 capital expenditures program by 60% in late-March 2020 due to pressure from the low oil price and outbreak of coronavirus disease 2019 (COVID-19).  Background Information  Geopark received validity extension for all three Tierra del Fuego area blocks from the Chilean government in May 2019. According to official reports in November 2019, GeoPark plans to invest between USD ten to fifteen million in Chile in 2020 with focus on drilling four exploration wells targeting oil in the Tierra del Fuego area blocks of Campanario, Flamenco, and Isla Norte.
Huillin X 1 nfw. (GeoPark 60% op, ENAP 40%), committed well in Isla Norte block, logged as non-commercial, to P&A. Targets Tobifera + Springhill Fm's. TD=2876m.