Oil and gas exploration company GeoPark announced Wednesday the acquisition of two blocks in Ecuador, Kallanish Energy reports.
The purchase is the first investment in Ecuador for the company, headquartered in Chile, with operations in other South American countries.
The Permian Basin Provides the Ideal Environment for Horizontal Drilling
News of oil in the Permian Basin is not new, as that area has been an arena for commercial exploration since the 1920s with over 30 billion barrels of oil produced since then.
