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GeoPark Restricted has entered Argentina’s Vaca Muerta shale with the acquisition of two operated blocks from Pluspetrol S.A., marking a serious strategic step for the Latin America-focused impartial.
The deal provides GeoPark a 100% operated working curiosity within the Loma Jarillosa Este block and a 95% operated curiosity within the Puesto Silva Oeste block, following the required switch of 5% to provincial vitality firm Fuel y Petróleo del Neuquén (GyP). The concessions cowl greater than 12,300 acres within the black oil window of the prolific shale play.
Present manufacturing from the blocks is 1,700–2,000 boed (95% oil), with recoverable assets estimated at over 60 million bbl. GeoPark initiatives plateau manufacturing of about 20,000 boed by 2028, supported by a growth plan of as much as 55 wells.
The $115 million acquisition, funded from money readily available, is predicted to shut by year-end 2025 pending remaining authorities approvals. GeoPark plans to assemble a brand new central processing facility with 20,000 bopd capability and supporting infrastructure to deal with future volumes.
“This defining milestone transforms GeoPark, including fast manufacturing, reserves and long-term worth, whereas establishing our presence in one of many world’s prime unconventional oil performs,” stated GeoPark CEO Felipe Bayón.
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