GeoPark Limited, a Latin American energy company, has said its pro-forma average daily production in the first quarter reached 36,279 barrels of oil equivalent (boe), surpassing its initial guidance for the year of 35,000 boe.
The company said production from organic operations was 8 percent lower than the fourth quarter of 2024 primarily due to an operational suspension on January 8, 2025, of the Platanillo Block and the divestiture of Llanos 32.
Production in Vaca Muerta reached a record of 17,358 barrels of oil equivalent per day (boepd) gross during February 2025, the company said, adding that it drilled nine wells during the quarter under review, four of which are in Vaca Muerta. In the quarter, Vaca Muerta averaged 15,533 boepd.
Key developments during the quarter included bringing the PAD-9 area online, which consists of three wells each with a lateral length of 3,200 meters (10,500 feet), and completing the drilling of the PAD-12 area, featuring four wells each extending 3,000 meters (9,842 feet) laterally, both within the Mata Mora Norte Block.
GeoPark said it initiated the construction of the Central Processing Facility (CPF-2), aiming for a total treatment capacity of 40,000 bopd by May 2026. Additionally, the Duplicar Plus Pipeline commenced operations, securing a substantial transportation capacity of 19,000 gross bopd.
GeoPark also reported record quarterly production in Llanos, achieving an average of 1,894 boepd (3,787 boepd gross) in the first quarter of 2025, fueled by strong performance from recently connected wells in the Llanos 123 Block. The Currucutu-1 exploration well, completed in April 2025, encountered 79 feet of net pay and is producing 1,360 bopd gross with minimal water.
Additionally, the Bisbita Oeste-1 well is contributing 585 bopd gross, and a January workover on the Zorzal Este-2 appraisal well in the Llanos 87 Block is now averaging 285-300 bopd.
Following these developments, GeoPark’s current gross production in the Llanos 123 Block has further increased to 4,940 boepd, marking a new peak, the company said.
The company plans to drill seven gross wells in Colombia and four gross wells in Argentina, targeting a mix of conventional, unconventional, appraisal, and exploration opportunities. Key activities include drilling six infill wells and continuing workovers in the Llanos 34 Block, completing and bringing online four wells on the PAD-12 area in the Mata Mora Norte Block, spudding four wells on the PAD-1 area in the Confluencia Sur Block, drilling one appraisal well in the Llanos 123 Block, and drilling one exploration well in the Llanos 104 Block, the company said.
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