WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
GeoPark Output Mixed, Hormuz Tensions Persist, $1.1B Funds Raised - Bakken Wire
Operator News

GeoPark Output Mixed, Hormuz Tensions Persist, $1.1B Funds Raised

Global operator news highlights production updates, geopolitical risk, and fresh capital flowing into oil and gas sector.

Bakken Wire Staff·🔆Midday Wire·

GeoPark Ltd. reported mixed first-quarter 2026 production results, averaging 27,249 barrels of oil equivalent per day (boed), according to a Thursday operational update. The figure was down from 28,351 boed in Q4 2025 due to divestments in Brazil and Ecuador. Production in its active countries, Colombia and Argentina, increased quarter-over-quarter.

In Colombia, production before royalties totaled 25,819 boed in Q1, up slightly from 25,629 boed in Q4. More than half of GeoPark's net production, 15,734 boed, came from the Llanos 34 block, though net output there fell 2.5 percent due to natural decline, temporary disruptions, and delayed drilling. Net production from the CPO-5 block dropped 7.7 percent to 6,109 boed due to February blockades, which GeoPark said have since been resolved. Development and exploration drilling in CPO-5 is set to start at the end of April.

GeoPark's net production from the Llanos 123 block grew 13 percent to 3,118 boed, driven by base performance and a waterflooding project. In Argentina's Vaca Muerta play, production contributed 1,430 boed before government share, up from 1,234 boed in Q4. GeoPark said it launched construction to expand the Loma Jarillosa Este gathering station capacity from 6,000 to 10,000 barrels of oil per day.

GeoPark expects its Q1 2026 results, scheduled for release May 6, to benefit from higher realized oil prices. The company reported a combined realized price of $60.4 per barrel in Q1, up from $54.8 per barrel in Q4 2025.

Tensions in the Strait of Hormuz continued Thursday, with the critical waterway effectively shut for an eighth straight week, according to Rigzone. U.S. President Donald Trump ordered the Navy to shoot any boat placing mines in the strait, and the military intercepted two oil supertankers attempting to evade restrictions. Iran attacked at least three vessels on Wednesday.

Trump stated the blockade would remain until Iran agrees to a deal to end the war, which began with U.S. and Israeli bombing in late February. White House Press Secretary Karoline Leavitt said the U.S. wants Iran to hand over its stocks of highly enriched uranium. About a fifth of the world's oil and LNG supplies typically transit through Hormuz.

In capital markets, private equity firm EIV Capital LLC announced Thursday it raised approximately $1.1 billion to launch two new oil and gas investment funds. EIV Capital Fund V LP will focus on equity investments in energy infrastructure businesses, including gathering, processing, and transportation. EIV Resources II LP will acquire non-operating stakes in wells across the contiguous United States.

The raise brings EIV Capital's total committed capital under management to about $3 billion. The funds received commitments from institutional investors including pension funds, insurance companies, and family offices.

Source

Rigzone

geoparkproduction updatestrait of hormuzgeopolitical riskeiv capitalprivate equityinvestment funds

Share this article

PostShareShareEmail

Related Articles

Operator News

Gulf Hurricane Threat Evacuates Workers, Could Tighten Oil Markets

Major oil companies are evacuating workers from the Gulf of Mexico ahead of a strengthening tropical storm, a move that could introduce new volatility to crude markets with potential implications for Bakken producers. Chevron is evacuating workers from all its Gulf platforms, while Shell is pulling non-essential personnel from six offshore platforms and BP is also conducting evacuations, according to reports from Reuters and CNN. While production at the facilities currently remains normal, the storm is forecast to reach the Gulf Coast by Friday, potentially as a Category 2 hurricane. Analysts warn the storm is an "unwelcome complication for crude, raising the prospect of production and refining disruptions at a time when the market already has enough supply-side headaches," KCM Trade chief analyst Tim Waterer told Reuters. The potential impact on Gulf Coast refineries is a primary concern for the broader oil market, including Bakken crude which often flows to...

☀️Morning Wire·Oct 7
Supreme Court Hears Climate Suit, Industry Warns of 'Judicially Ordered Carbon Tax' - Bakken Wire
Operator News

Supreme Court Hears Climate Suit, Industry Warns of 'Judicially Ordered Carbon Tax'

The U.S. Supreme Court heard arguments Monday in a pivotal climate liability case that could open the door to state-level lawsuits against oil and gas companies, a prospect the industry warns could act as a "judicially ordered carbon tax," according to a report from OilPrice.com. The case involves a lawsuit filed by Boulder County, Colorado, against ExxonMobil and Suncor Energy Inc., seeking damages for local climate-change-related impacts. The Canadian-based Suncor and Texas-based ExxonMobil argue that climate policy and alleged damages are exclusively federal matters, and the state suit should be dismissed. Boulder County contends it is only seeking compensation for local damage from decades of emissions, not aiming to change federal policy, OilPrice.com reported. For Bakken operators, the case represents a significant liability threat. The industry argues that a victory for Boulder County would allow a flood of similar lawsuits to proceed, potentially targeting producers based on their historical emissions....

🔆Midday Wire·Oct 5
Operator News

ConocoPhillips Signs 20-Year LNG Supply Deal with Venture Global

ConocoPhillips has entered a 20-year agreement to purchase liquefied natural gas from Venture Global LNG, according to a report from Rigzone. The deal, finalized on October 2, 2026, will see ConocoPhillips buying one million metric tons per year of LNG starting in 2030. For Bakken operators, this long-term LNG offtake agreement by a key player highlights the growing importance of global natural gas markets for the region's production. The Bakken formation is a major oil-producing region, but its operations also yield significant volumes of associated natural gas. Such a deal provides ConocoPhillips, a major operator in the Williston Basin, with a secured outlet for future natural gas production. While the specific source of the LNG is not detailed in the report, long-term contracts like this underpin investment in gas gathering, processing, and transportation infrastructure that can benefit the broader Bakken region. The move aligns with industry trends of securing stable...

☀️Morning Wire·Oct 5