Geopark, a Latin American energy company, just completed drilling a new well in Chile. Called Alakuf 4, it is already producing 380 barrels of oil a day.

For those who don't think U.S. oil companies are spending enough to find new oil:US drilling outlays soar to $226.4 billion in 2007WASHINGTON, DC, Jan. 5 -- US oil and gas drilling expenditures soared to a record $226.4 billion in 2007, more than doubling ...