GeoPark, a leading independent energy company with over 20 years of successful operations across Latin America, has announced the completion of its previously announced acquisition from Pluspetrol of a 100% operated working interest in the Loma Jarillosa Este and Puesto Silva Oeste blocks, located in the black oil window of the Vaca Muerta formation in Neuquén Province, Argentina.
The Government of Neuquén Province has issued two decrees - DECTO-2025-1226 for the Loma Jarillosa Este Block and DECTO-2025-1270 for the Puesto Silva Oeste Block - and with the issuance of such decrees, all required governmental and regulatory approvals with respect to the acquisition have now been obtained. As per the terms and conditions of the Actas Acuerdo ('Deeds of Agreement') previously announced, GeoPark has also transferred a 5% WI in the Puesto Silva Oeste Block to Gas y Petróleo del Neuquén S.A ('GyP'), which joins GeoPark as a strategic partner in the development of this asset.
Following the issuance of the above-mentioned decrees, GeoPark and Pluspetrol have executed public deeds formalizing the transfer of the concessions. As part of the closing, GeoPark has disbursed the remaining balance of the purchase price(1), for a total consideration of $115 million(2).
The prompt completion of this transaction highlights the strong collaboration between GeoPark, Pluspetrol, GyP, and the Government of Neuquén Province, as well as GeoPark’s long-term commitment to Argentina, disciplined investment, operational excellence, and close partnership with local stakeholders.
Felipe Bayon, Chief Executive Officer of GeoPark, said: 'This closing marks an important milestone for GeoPark as we officially become operators in Vaca Muerta. We thank the Government of Neuquén Province, Pluspetrol, and GyP for their trust and partnership throughout this process. Our teams are already on the ground and are ready to deliver on our commitments and develop these assets with the operational and financial excellence, environmental stewardship, and social responsibility that define GeoPark.'
(1) Including a security deposit of $22.7 million and $92.3 million balance payment.
(2) Amount subject to customary price adjustments.
Source: GeoPark
