GeoPark to acquire interest in Loma Jarillosa Este, Puesto Silva Oeste blocks

GeoPark (GPRK) announced that it has entered into an agreement with Pluspetrol to acquire a 100% operated working interest in the Loma Jarillosa Este and Puesto Silva Oeste blocks that target black oil in the Vaca Muerta formation in Neuquen Province, Argentina. Concurrently, GeoPark and the Government of Neuquen Province have signed two “Actas Acuerdo” that establishes the parties’ commitment to the deal and outline the terms and conditions under which the concessions will be transferred. The deeds of agreement include the issuance of a new unconventional exploitation license for the Puesto Silva Oeste Block that requires GeoPark to transfer a 5% WI to Gas y Petroleo del Neuquen, therefore resulting in a 95% operated WI in that block. This acquisition delivers on GeoPark’s declared strategic intent to establish a position in Vaca Muerta, an unconventional oil and gas play. As an accredited unconventional operator, GeoPark will be positioned to actively contribute to the basin’s operational ecosystem, while pursuing growth opportunities and efficiency initiatives. The transaction is expected to close before year-end 2025, following the issuance of the Neuquen Province Decree ratifying the Deeds of Agreement. GeoPark will continue to work jointly with its counterparties to progress the transaction effectively and inform the market on further developments as they become available.