GeoPark plans up to 7 Colombian wells and a Vaca Muerta frac finish in the third quarter

GeoPark, a Latin American oil and gas producer, has set out its third-quarter 2026 work programme: drilling 6-7 gross wells in Colombia and completing hydraulic fracturing in Argentina. The company gave the plan in its second-quarter operational update, dated July 21, 2026. The quarter runs from July 1 to September 30, and the company has given no more precise dates.

What is planned

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

Why it matters

Llanos 34 is the company's largest asset in the figures it has published. Its P50 oil reserve was stated at 87.7 million barrels in February 2023, and GeoPark holds 45%. In the second quarter it produced 15,697 barrels of oil equivalent a day (boepd) net to GeoPark.

CPO-5, where GeoPark holds 30%, had a P50 oil reserve of 12.6 million barrels as of the same 2023 statement. It produced 6,132 boepd net. The exploration well is the one item in the plan aimed at finding new oil rather than developing known fields. If it succeeds, it could add to a reserve figure that is now more than three years old.

Total production was 27,271 boepd in the second quarter, flat on the first quarter's 27,249 boepd. The planned wells are aimed at holding or lifting that level. In Argentina, the company says it is on track to triple production by the end of 2026. Production there was 1,400 boepd in the second quarter, flat on the prior quarter.

What is uncertain

The company has not said when in the quarter each well will start, or what any of them will produce. Drilling results, including those from the exploration well, are not known in advance. Argentine start-up depends on completing fracturing, which stood at 119 of 218 stages at the end of June. The company has not given a start-up date.

Most reserve figures are dated. Platanillo's 12.3 million barrels (100% owned) was stated in 2020. Platanillo's OBA pipeline route was not used from early 2026 because of regulatory measures in Ecuador and was reactivated in mid-June.

GeoPark agreed in January 2026 to buy Frontera Energy's Colombian assets for US$375 million cash plus up to US$25 million in contingent payments. The latest filing does not say whether that deal has closed. That means the reserves and production above may not reflect the enlarged company.