GeoPark has completed its acquisition in Vaca Muerta and assumed operatorship of two premier blocks in Argentina’s Neuquén Province, marking a pivotal advance in its Latin American portfolio.
Strategic Acquisition and Regulatory Approval
GeoPark Limited (NYSE: GPRK), a leading independent energy company active across Latin America, has finalised the purchase of 100 % of the operated working interest in the Loma Jarillosa Este and Puesto Silva Oeste blocks from Pluspetrol S.A.
The Neuquén provincial government has issued decree DECTO‑2025‑1226 (Loma Jarillosa Este) and DECTO‑2025‑1270 (Puesto Silva Oeste), satisfying requisite regulatory approvals for the concession transfers.
In keeping with the terms of the Actas Acuerdo (Deeds of Agreement), GeoPark transferred a 5 % interest in the Puesto Silva Oeste block to Gas y Petróleo del Neuquén S.A. (GyP) as a carried partner.
Financial Consideration & Closing
The total transaction consideration is US$115 million, inclusive of a US$22.7 million security deposit already placed, with the balance disbursed at closing.
Public deeds formalising the concession transfers have been executed, concluding the transaction from a legal standpoint.
Operational and Resource Highlights
The acquired acreage spans more than 12,300 gross acres in the “black oil” window of Vaca Muerta.
Current production from the two blocks is approximately 1,700–2,000 boepd, with 95 % of output oil and 5 % gas.
Independent assessments estimate 2P reserves of 25.8 million boe, and 2C contingent resources of 44.2 million boe.
GeoPark anticipates ramping output toward a plateau of roughly 20,000 boepd by year‐end 2028, deploying up to 50–55 additional wells across multiple pads.
At the projected plateau, the newly acquired assets could contribute US$300–350 million in gross adjusted EBITDA (assuming Brent of US$70/bbl).
For 2025, they are expected to add US$12–14 million of adjusted EBITDA on a pro forma basis.
Strategic Significance & Forward Outlook
This acquisition aligns with GeoPark’s declared aim to establish a substantial foothold in Vaca Muerta, a leading unconventional basin in Latin America.
Addition of these blocks advances GeoPark’s production scale to an estimated 30,000 boepd pro forma in 2025.
The company plans to tie the two sites with a hub model, including the construction of a central processing facility at Puesto Silva Oeste (capacity ~20,000 bopd) and a pipeline linking the blocks.
Construction is expected to commence in 2026 to support the growth plan.
Felipe Bayón, GeoPark’s CEO, remarked that the closing represents a transformational milestone and affirms their commitment to operational, financial, ESG, and stakeholder excellence in Argentina.
