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Stock impact report

GeoPark to Acquire Two Vaca Muerta Blocks from Pluspetrol [Yahoo! Finance]

Geopark Ltd Common Shares (GPRK) 
US:NYSE Investor Relations: geo-park.com/en/investor-support
Company Research Source: Yahoo! Finance
Este and Puesto Silva Oeste blocks in the Vaca Muerta formation in Argentina's Neuquen Province from Pluspetrol SA for $115 million. Concurrently Bogota-based GeoPark penned two agreements with the provincial government that "include the issuance of a new unconventional exploitation license for the Puesto Silva Oeste Block that requires GeoPark to transfer a five percent working interest (WI) to Gas y Petroleo del Neuquen SA (GyP), therefore resulting in a 95 percent operated WI in that block", GeoPark said in a statement on its website. Expected to be completed by year-end, the transaction with Buenos Aires-based Pluspetrol will increase GeoPark's proforma production by 1,700-2,000 barrels of oil equivalent per day (boepd) - 95 percent oil and five percent gas - to 30,000 boepd, the statement said. "Current production is processed with a battery that can handle up to 6,000 bopd at the Loma Jarillosa Este Block", the statement said. "GeoPark plans to develop the two blocks as a Show less Read more
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