GeoPark plans 6-7 wells in Colombia this quarter, with Llanos 34 and CPO-5 in focus

GeoPark says it will drill 6-7 gross wells in Colombia in the third quarter of 2026 (1 July to 30 September), according to its second-quarter operational update dated 21 July 2026. It also plans to finish hydraulic fracturing in Argentina. The company gave timing only by quarter, not by specific dates.

What is planned

• Llanos 34: complete the first horizontal well to the Gacheta Formation and drill three infill wells in the Tigana field.
• CPO-5: drill one exploration well and run a workover campaign in the Indico field.
• Llanos 123: drill one to two development wells.
• Argentina: finish fracturing five Vaca Muerta wells, then start production.

Why it matters

GeoPark is an oil and gas producer in Latin America. Its second-quarter production was 27,271 barrels of oil equivalent per day (boepd), almost unchanged from 27,249 in the first quarter. Colombia made up 25,871 boepd of that.

Llanos 34 is the largest asset in the valuation inputs. GeoPark holds 45% of it, and the latest P50 oil reserve estimate is 87.7 million barrels (stated February 2023). The block produced 15,697 boepd net in the second quarter. The Gacheta horizontal well is the first of its kind there, so its result is a new data point. Infill wells aim to hold production in a mature field.

CPO-5, where GeoPark holds 30%, had a P50 oil reserve of 12.6 million barrels (February 2023). The exploration well is the less certain part of the plan: if it finds oil, it could add to that figure, and if it does not, the estimate would not change. Both reserve figures are more than three years old.

What is uncertain

The update gives no well-by-well timing and no results yet. The Llanos 123 range of one to two wells shows the scope is not fixed. In Argentina, the company's first drilling rig under a new three-year contract is not expected to spud until late in the fourth quarter. Separately, the company's January 2026 agreement to buy Frontera's Colombian assets was subject to approvals, and the sources here do not say whether it has closed.

The 2023 and 2020 reserve estimates also predate the current production figures, so they may not reflect today's position.