(WO) – GeoPark Limited has submitted a binding offer to acquire a non-operated Working Interest (WI) in unconventional blocks Argentina’s Neuquen basin in the prolific Vaca Muerta shale region. According to a company statement, the offer has been accepted by the seller and the parties are working on an exclusive basis towards execution of definitive agreements.

The potential acquisition is consistent with GeoPark’s strategy of continued expansion in the leading proven oil and gas basins in Latin America. Upon closing, the assets would immediately contribute more than 5,000 net boepd of production. The agreed acquisition price is around $200 million, plus an additional carry of $110 – 120 million (gross), over a two year period, associated to certain exploration activities.