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GeoPark acquires new Argentina block in partnership with YPF

Jun. 11, 2018 8:40 AM ETGeoPark Limited (GPRK) StockBy: Carl Surran, SA News Editor1 Comment
  • GeoPark (NYSE:GPRK) +3.7% premarket after announcing further expansion in Argentina's Neuquen Basin with the acquisition of the Los Parlamentos block in partnership with YPF.
  • GPRK says it will receive a 50% non-operating working interest in the block in exchange for a commitment to fund its 50% stake of one exploration well and additional 3D seismic; the company says its total financial commitment is ~$6M over the next three years.
  • GPRK considers Los Parlamentos a high-potential block covering 366K acres located near other producing fields.

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