Exploration & Production

GeoPark to buy Neuquén Basin blocks

Oil and gas explorer GeoPark will buy the onshore Aguadas Baguales, El Porvenir and Puesto Touquet blocks in Argentina’s Neuquén Basin.
By Staff reporter 21 December 2017 0 28886

Latin America-focused oil and gas explorer GeoPark will buy the onshore Aguadas Baguales, El Porvenir and Puesto Touquet blocks in Argentina’s Neuquén Basin in northern Patagonia from local independent Pluspetrol for $52 million.

The blocks represent oil and gas production of only roughly 2,700 barrels of oil equivalent per day, around 30% of which is gas, but could give GeoPark a route into Argentina’s Vaca Muerta shale formation.