GeoPark expands its regional growth strategy after closing the acquisition of the Loma Jarillosa East and Puesto Silva West blocks, located in the Vaca Muerta basin of Neuquén, Argentina.
Acquisition of two blocks in Vaca Muerta
With an initial production of approximately 2,000 barrels of oil equivalent per day, GeoPark plans to scale up to 20,000 barrels per day by 2028. This development plan includes the drilling of more than 50 wells, the installation of a central processing facility(CPF) with the capacity to handle the projected volume, and the construction of a pipeline to connect both blocks, which will allow for an integrated and efficient operation.
Argentina has succeeded in reposition Vaca Muerta as the epicenter as the epicenter of its energy production. Currently, the basin provides more than 60% of the country’s oil and gas. This boom has led the country to record an energy trade surplus of US$5.7 billion in 2024, with prospects for exports of US$30 billion before the end of the decade. Cumulative investments in the region exceed $47 billion.
In the province of Neuquén, the impact has been direct: GDP per capita reached US$61,128, quadrupling the national average. At the labor level, each direct job in the sector generates more than five indirect jobs, boosting related industries such as transportation, engineering, industrial services and technology.
The company, with a consolidated presence in Colombia and listed on the New York Stock Exchange, brings its experience in managing complex reservoirs in challenging environments. In addition, its operating model based on the SPEED system(Safety, Prosperity, Employees, Environment and Community Development) has allowed it to integrate sustainability with profitability, a competitive advantage that it now applies in Argentina.
Source and photo: GeoPark
