GeoPark secures Corralera Noreste block in Argentina’s Vaca Muerta
GeoPark won the Corralera Noreste block in Neuquén Province’s Vaca Muerta through the Ronda 1/2026 public tender. The award adds about 24,200 net acres (≈26,900 gross acres) and gives GeoPark a 90% working interest. The company will pay a $60.5 million access bonus as part of a total committed cost of roughly $95 million and will drill two 2,000‑metre horizontal wells with 30 hydraulic‑fracture stages each during an initial four‑year exploration period. GeoPark estimates the block holds around 200 million barrels of oil‑equivalent of unrisked gross resource potential and could deliver 40,000‑50,000 boe/d of peak production, subject to successful appraisal.
Why it matters
GeoPark says it will fund the bonus and initial work programme with existing cash and committed liquidity, leaving its overall capital allocation priorities unchanged. The acquisition expands the company’s Argentine portfolio and could provide a material long‑term upside to production and reserves if the resource potential is realized.
Key facts
- 1GeoPark added approximately 24,200 net acres (about 26,900 gross acres) in the Corralera Noreste block. worldoil.com
- 2The total committed cost, including the entry bonus, is about $95 million. worldoil.com
- 3GeoPark will pay a one‑time access bonus of $60.5 million to the province. worldoil.com
- 4GeoPark will operate the block with a 90% working interest, while GyP retains 10%. worldoil.com
- 5The initial work programme includes drilling two horizontal wells, each with a 2,000 m lateral and 30 hydraulic‑fracture stages. worldoil.com
- 6GeoPark estimates the block holds roughly 200 million barrels of oil‑equivalent of unrisked gross resource potential. worldoil.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.