GeoPark has acquired the Corralera Noreste field located in the Neuquén basin of Argentina for $95 million. This field, with an area of approximately 26,900 acres (24,200 net acres), is situated in the Vaca Muerta region, and the total committed cost, including the entry fee, is about $95 million, averaging around $3,900 per net acre.
Tender Details and Field Capacity
This field was awarded to GeoPark in the Ronda 1/2026 tender conducted by the provincial energy company Gas y Petróleo del Neuquén (GyP). This tender was the largest offering of Vaca Muerta lands in nearly a decade, comprising 15 blocks and 20 bids from 10 companies. GeoPark's bid received the highest score under the tender award formula.
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Production Potential and Development Planning
The Corralera Noreste field is located in the northern hub of Vaca Muerta near Rincón de los Sauces and is recognized as a developing area with existing infrastructure. Operations near this field conducted by other companies generally produce 80,000 barrels per day and serve as technical benchmarks. GeoPark estimates that this field has approximately 200 million barrels of oil equivalent (MMboe) of risk-free net resource potential in two landing zones, with potential upside from two additional zones. The peak net production potential of this field is estimated to be between 40,000 and 50,000 barrels of oil equivalent per day (boed), provided that the evaluation is successful.
GeoPark intends to approach the development of this field in a phased manner, starting with the drilling of two horizontal wells and a long testing period before making significant investments in development. The company plans to fund initial commitments using existing liquidity. Felipe Bayón, CEO of GeoPark, stated: "We will approach this project with the same capital discipline that we apply in our investment portfolio; first focusing on identifying subsurface uncertainties and then with the need to acquire any additional phase to secure the next dollar of capital through technical performance and attractive economics."
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