GeoPark has completed its previously announced purchase from Pluspetrol S.A. of a 100% operated working interest in the Loma Jarillosa Este block and Puesto Silva Oeste block, located in the black oil window of Argentina's Vaca Muerta formation in the Neuquén basin.
Neuquén Province Government has passed decrees making the transaction legal - DECTO-2025-1226 for Loma Jarillosa Este and DECTO-2025-1270 for Puesto Silva Oeste - that grant all governmental and regulatory approvals required. The transfer includes the formal signing of public deeds between Pluspetrol and GeoPark, sealing the concession transfers and enabling GeoPark to assume full operatorship.
Part of the completion saw GeoPark grant a 5% working interest in the Puesto Silva Oeste block to Gas y Petróleo del Neuquén S.A. (GyP), making GyP a strategic partner in the development of the asset. The deal represents aggregate consideration of approximately $115 million.
The purchase boosts GeoPark's operated presence in one of South America's richest unconventional oil basins, where Vaca Muerta is leading foreign investment and multi-billion-barrel development. The firm said its crews are already mobilized to begin operational work over both blocks.
The completion of this transaction is an important milestone for GeoPark as we become formal operators in Vaca Muerta," said Felipe Bayón, GeoPark Chief Executive Officer. "We are grateful to the Government of Neuquén Province, Pluspetrol, and GyP for the confidence and support given throughout this process. Our teams are ready to honor our commitments and develop these assets with the operational and financial excellence, environmental stewardship, and social responsibility which are hallmarks of GeoPark.".
The company described the achievement as a reaffirmation of its long-term commitment to Argentina and its business strategy of increasing production and reserves in the country through disciplined investment and in cooperation with local stakeholders.