10:34 AM EDT, 04/11/2024 (MT Newswires) -- GeoPark ( GPRK ) said Thursday that it has submitted a binding offer to buy a non-operated working interest in unconventional blocks in the Neuquen Basin, Argentina.

The agreed acquisition price is around $200 million, plus an additional carry of $110 million to $120 million over two years, related to certain exploration activities, the company said.

The seller has accepted the offer and the parties are working on executing definitive agreements, the company said, adding that the transaction is expected to close in Q3.

Once the deal closes, the assets would immediately contribute more than 5,000 net barrels of oil equivalent per day of production, the company said.

Shares of Geopark ( GPRK ) were 1.2% higher in recent trading.

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