GeoPark enters Vaca Muerta with acquisition of two blocks from Pluspetrol

GeoPark Limited has entered Argentina’s Vaca Muerta shale with the acquisition of two operated blocks from Pluspetrol S.A., marking a major strategic step for the Latin America-focused independent. 

The deal gives GeoPark a 100% operated working interest in the Loma Jarillosa Este block and a 95% operated interest in the Puesto Silva Oeste block, following the required transfer of 5% to provincial energy company Gas y Petróleo del Neuquén (GyP). The concessions cover more than 12,300 acres in the black oil window of the prolific shale play.

Current production from the blocks is 1,700–2,000 boed (95% oil), with recoverable resources estimated at over 60 million bbl. GeoPark projects plateau production of about 20,000 boed by 2028, supported by a development plan of up to 55 wells.

The $115 million acquisition, funded from cash on hand, is expected to close by year-end 2025 pending final government approvals. GeoPark plans to construct a new central processing facility with 20,000 bopd capacity and supporting infrastructure to handle future volumes.

“This defining milestone transforms GeoPark, adding immediate production, reserves and long-term value, while establishing our presence in one of the world’s top unconventional oil plays,” said GeoPark CEO Felipe Bayón.