GeoPark awarded Corralera Noreste block in Vaca Muerta bid round

Under the terms of the award, GeoPark has committed to a work program during the initial 4-year exploration period that includes drilling and fracturing two horizontal wells, each with a 2,000-m lateral and 30 fracture stages.

Oct. 22, 2026

2 min read

Add Us On Google

Argentina flag blowing in wind — GeoPark held the winning bid in a block offered through a public bidding round (Ronda 1/2026) launched by Neuquén Province’s Gas y Petróleo del Neuquén (GyP) under the Plan Exploratorio Neuquén—the largest Vaca Muerta acreage offering in nearly a decade.

GeoPark Ltd. has been awarded the Corralera Noreste (Corralera NE) block in Argentina's Neuquén basin, nearly tripling its position in the Vaca Muerta shale play.

Neuquén Governor Rolando Figueroa speaking to an audience

Exploration & Development

Neuquén bid round aims to expand Vaca Muerta's frontier areas with new operators

May 11, 2026

The block was awarded through Neuquén Province's Ronda 1/2026 licensing round, conducted by provincial energy company Gas y Petróleo del Neuquén (GyP).

GeoPark plans to advance the block through a phased appraisal program beginning with the drilling and completion of two horizontal wells, followed by extended testing to evaluate productivity and resource quality. Future appraisal and development spending will depend on technical results and project economics, the company said.

Corralera NE lies near Rincón de los Sauces in the northern Vaca Muerta trend. The award adds about 26,900 gross acres (24,200 net acres) to GeoPark's portfolio at a total committed cost, including the entry bonus, of about $95 million.

GeoPark estimates the block contains about 200 MMboe of unrisked gross resource potential based on two landing zones, with additional upside from two further prospective horizons. The company said potential gross peak production from the initial two landing zones could reach 40,000-50,000 boe/d, subject to successful appraisal and development.

Corralera Noreste Block map — Corralera NE was awarded to GeoPark Ltd. through a public bidding round (Ronda 1/2026) launched by Neuquén Province’s Gas y Petróleo del Neuquén.

Under the terms of the award, GeoPark will pay a one-time access bonus of $60.5 million and carry out a committed work program during the initial 4-year exploration period. The program includes drilling and fracturing two horizontal wells, each with a 2,000-m lateral and 30 fracture stages.

GeoPark will operate the block with a 90% working interest. GyP will hold the remaining 10% interest, fully carried by GeoPark and recoverable from up to 80% of GyP's share of future production.

The companies will execute a joint venture agreement that will be submitted for provincial approval.

Corralera NE carries a 12% royalty and an initial 4-year exploration term with an option for a second 4-year period. If a commercial discovery is declared, the license converts to a 35-year unconventional exploitation concession.

The Ronda 1/2026 bidding round was launched under the Plan Exploratorio Neuquén program and offered 15 blocks. The process attracted 20 bids from 10 companies.