The Colombian oil company confirmed that it returns to unconventional training with the aim of consolidating its regional expansion.
The oil company Geopark confirmed in the last hours his intention to return to Vaca Muerta with an investment plan that could reach up to US $ 500 million. This announcement, led by the new CEO, Felipe Bayónpromises to add a new relevance player in the Neuquina square but also implies, for the firm, an expansion strategy that, as it transpired, seeks to double their proven and probable reserves, currently in 84 million barrels, with a potential of 50 to 80 million additional barrels in Vaca Muerta.
Governor Rolando Figueroa said yesterday that international companies, including a Colombian, are evaluating his entry to Vaca Muerta, highlighting Geopark as one of the key actors. Felipe Bayón, in a recent statement to the press, said: “We want to enter Vaca Muerta”underlining that the company has US $ 270 million in cash to finance this expansion, complementing loans or bond issuance.
Geopark already had a presence in Vaca Muerta until 2021, but came out after selling his assets. In 2024, a previous attempt to return through an agreement with Phoenix Global Resources (for US $ 320 million) was frustrated by the lack of regulatory approval in Neuquén. Now, with a more favorable context and negotiations with Pampa Energy –which acquired 10.17% of Geopark’s shares in May– The company advances in the identification of strategic projects, with the possibility of realizing its income before the end of the year.
Felipe Bayon Geopark
Balance numbers
The firm comes from reporting financial results solids for the second quarter of 2025despite a 6% drop in production and 9% lower realization prices. According to a report, Geopark achieved an EBITDA of US $ 71.5 million with a 60%margin, although it registered a non -recurrent position of US $ 31 million for divestments in Ecuador. The net profit of the first quarter was US $ 13.1 million, 14% lower than the fourth quarter of 2024, due to extraordinary costs related to the partial repurchase of the 2027 bonds and the issuance of the 2030 bonds. However, the company highlighted a solid cost discipline, with operating costs per barrel of equivalent oil (BPE) reduced reduced Au $ s12.3, within the expected range of US $ 12-14.
In the first quarter of 2025, Geopark invested US $ 22.6 million in Colombia, focusing on reconditioning and infrastructure development campaigns In the Llanos 34 block (45% participation) and exploratory drilling in the Llanos 123 block (50% participation). In Argentina, the company allocated UU $ S23.8 million to key projects in Vaca Muerta, including the completion of three wells in PAD 9 and the drilling of four wells in PAD 12. These investments reflect an EBITDA ratio adjusted to capital costs of 3.9x and a return on the capital used (Roace) of 27%.
Geopark’s reentry to Vaca Muerta aligns with the growth of the production of the local shale, which reached a production record of 370,000 barrels per day of oil and 110 million cubic meters of gas in July 2025. As it transpired, the alliance with Pampa Energía not only facilitates access to key blocks, but also strengthens the operational capacity of the company, taking advantage of the company local knowledge. This movement could accelerate joint projects, such as the development of unconventional wells, and position the firm as a strategic partner within the framework of the Argentine LNG project, which seeks to export Vaca Gas Muerta to the global market.
Source: Ambito
