GeoPark triples Vaca Muerta production and proposes new debt offering

GeoPark has significantly expanded its operations in Argentina’s Vaca Muerta formation, increasing production from an initial 1,400 barrels of oil equivalent per day (boepd) to over 5,000 boepd as of September 2026. This growth follows the company’s acquisition of the Loma Jarillosa Este and Puesto Silva Oeste areas from Pluspetrol in October 2025.

The production surge was driven by workover campaigns to install artificial lift systems and the successful drilling of five horizontal wells at Pad 1030. The company reported completing 180 fracturing stages in 32 days, achieving high operational efficiency without recorded safety incidents during its first year of operation in the region.

To support continued development, GeoPark has proposed a private placement of senior notes. The proceeds are intended to fund a cash tender for its 8.75% notes due 2030, repay other debt, and cover capital expenditures for Vaca Muerta assets over the next 18 months. The company has allocated between $80 million and $100 million for its 2026 work program, which includes plans for factory drilling in Argentina.