GeoPark (GPRK) has released an update.
GeoPark Limited, a leading Latin American oil and gas company, has announced the strategic acquisition of working interests in four high-quality blocks located in Argentina’s prolific Vaca Muerta shale formation, which promises immediate production growth and substantial reserves. The $190 million deal for assets with proven production capabilities and significant exploration upside is set to enhance GeoPark’s portfolio and increase its production by an estimated 5,500-6,500 net barrels of oil equivalent per day. The transaction, which includes a partnership with Phoenix Global Resources, is expected to close by the end of the third quarter of 2024, subject to regulatory approvals.
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