GeoPark Triumphs with Vaca Muerta Acquisition, Securing Operatorship of Prime Blocks
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent energy company with more than two decades of successful operations across Latin America, today announced the completion of its previously disclosed acquisition from Pluspetrol S.A. (“Pluspetrol”) of a 100% operated working interest (“WI”) in the Loma Jarillosa Este and Puesto Silva Oeste blocks. These assets are located within the black oil window of the renowned Vaca Muerta formation in Neuquén Province, Argentina—one of the most promising shale and unconventional hydrocarbon basins in the region.
The transaction represents a major strategic milestone for GeoPark, as it expands the Company’s footprint in Argentina while reinforcing its commitment to operational excellence, disciplined investment, and close collaboration with local stakeholders. With this acquisition, GeoPark not only strengthens its portfolio in a high-potential resource area but also assumes operatorship over two technically attractive blocks that offer significant growth and value creation opportunities.
The Government of Neuquén Province has issued the necessary decrees—DECTO-2025-1226 for the Loma Jarillosa Este Block and DECTO-2025-1270 for the Puesto Silva Oeste Block—thereby providing all required governmental and regulatory approvals to complete the transaction. In alignment with the previously announced terms of the Actas Acuerdo (“Deeds of Agreement”), GeoPark has transferred a 5% working interest in the Puesto Silva Oeste Block to Gas y Petróleo del Neuquén S.A. (“GyP”). GyP now joins GeoPark as a strategic partner, contributing its regional expertise and facilitating the joint development of this high-quality asset.
Following the issuance of these official decrees, GeoPark and Pluspetrol executed public deeds formalizing the transfer of the concessions. As part of the closing process, GeoPark disbursed the remaining balance of the purchase price, totaling $115 million, which included a $22.7 million security deposit and a $92.3 million balance payment. The total consideration remains subject to customary price adjustments.
It swift completion of this acquisition highlights the strong collaboration among GeoPark, Pluspetrol, GyP, and the Government of Neuquén Province. The transaction also underscores GeoPark’s long-standing commitment to Argentina, exemplifying the Company’s disciplined investment strategy, operational capabilities, and ability to forge strong partnerships with local authorities and communities.
Felipe Bayon, Chief Executive Officer of GeoPark, commented on the acquisition, stating: “This closing marks a significant milestone for as we officially become operators in Vaca Muerta. We are grateful to the Government of Neuquén Province, Pluspetrol, and GyP for their trust and collaboration throughout this process. Our teams are already on the ground, ready to execute our operational plans and develop these assets with the operational and financial excellence, environmental stewardship, and social responsibility that define GeoPark.”
GeoPark’s approach to Vaca Muerta emphasizes sustainable growth and value creation through a combination of technical expertise, innovative operational practices, and a commitment to environmental and social responsibility. As operators, will implement best-in-class practices to maximize hydrocarbon recovery, optimize production efficiency, and minimize environmental impacts. The Company’s operational teams are already mobilized, leveraging decades of regional experience to ensure safe and efficient development of these blocks.
The Loma Jarillosa Este and Puesto Silva Oeste blocks are strategically located in areas with strong exploration potential, robust infrastructure, and proximity to established pipelines and processing facilities. Their position within the black oil window of Vaca Muerta positions to capitalize on the region’s highly prospective unconventional oil and gas resources. These blocks are expected to contribute meaningfully to the Company’s overall production growth and provide a platform for long-term value creation.
This acquisition also strengthens relationship with local communities and regional authorities. The Company remains committed to promoting socio-economic development in Neuquén Province, supporting local employment, and adhering to rigorous environmental and social standards. Collaboration with GyP enhances ability to navigate local regulatory frameworks effectively and ensures alignment with regional development priorities.
