GeoPark (GPRK) Company Report

GeoPark Limited announced its 2026 Work Program and 2027-2028 medium-term guidelines, projecting to double EBITDA and increase production by over 60% through 2028.
The 2026 Work Program allocates $190-220 million in capital expenditures to support targeted production of 27,000-30,000 boepd.
Strategic milestones include a 22% increase in 2P Original Oil in Place in the Llanos 34 Block and an accelerated production ramp-up in Argentina, now expected to begin in 2026.
The company also reported a 38% year-over-year increase in 2P reserves, extending its reserve life index to 12.7 years, and approved a revised dividend program of approximately $6 million over four quarters.

6 days ago

6-K

GeoPark Announces Strong 2P Reserve Growth and Replacement

GPRK

M&A

New Projects/Investments

GeoPark Limited reported a 2P Reserve Replacement Ratio of 430% and an 80% increase in its 2P Reserve Life Index to 12.7 years as of December 31, 2025.
Total 2P reserves grew 38% year-over-year to 121 mmboe, the highest level since 2022, primarily driven by the acquisition of 36.7 mmboe in Argentina's Vaca Muerta region, which now accounts for 30% of the company's total 2025 reserves.
The company achieved a 2P finding, development, and acquisition cost of $4.3 per boe and reported a net debt-adjusted 2P value per share of $15.8.

Nov 25, 2025, 1:35 AM

6-K

GeoPark Reports Q3 2025 Results, Completes Vaca Muerta Acquisition, and Rejects Takeover Bid

GPRK

Earnings

M&A

Takeover Bid

GeoPark successfully closed the acquisition of two high-quality blocks in Vaca Muerta, Neuquén, Argentina, on October 16, opening a new chapter for long-term growth and diversification. This acquisition is part of a new strategic plan launched on October 21, prioritizing a resilient base in Colombia and scaling a transformational platform in Argentina.
For Q3 2025, GeoPark reported average consolidated production of 28,136 barrels of oil equivalent per day, exceeding 2025 guidance and representing a nearly 3% quarter-over-quarter increase. Adjusted EBITDA reached $71.4 million with a 57% margin, and net income was $15.9 million.
The Board of Directors approved a revised dividend program totaling approximately $6 million over the next four quarters, or $0.03 per share per quarter, starting with the Q3 2025 payout. Dividends will be suspended as of Q3 2026 as investments in Argentina peak.
The board unanimously determined that an unsolicited, non-binding proposal of $9 per share submitted by Parex Resources on September 4, 2025, undervalues GeoPark and is not in the best interest of shareholders. A special committee of independent directors has been formed to evaluate any potential revised offer.

Nov 6, 2025, 3:00 PM

Transcript

GeoPark Reports Q3 2025 Results and Strategic Updates

GPRK

Earnings

Dividends

New Projects/Investments

GeoPark Limited reported Adjusted EBITDA of $71.4 million (57% margin) and net income of $15.9 million for the third quarter of 2025.
Consolidated average oil and gas production for Q3 2025 reached 28,136 boepd, with operating costs at $12.5 per barrel of produced boe.
The company maintained a robust balance sheet with $197.0 million in cash and net debt of $373.4 million, resulting in a 1.2x net leverage ratio as of September 30, 2025.
A quarterly cash dividend of $0.03 per share was announced for Q3 2025, with dividends expected to be suspended starting from Q3 2026 results.
GeoPark successfully completed the Vaca Muerta acquisition and presented a long-term strategic plan targeting consolidated production of 42,000–46,000 boepd and Adjusted EBITDA of $520–550 million by 2030.

Nov 5, 2025, 9:40 PM

6-K

GeoPark Ltd Reports Q3 and Nine-Month 2025 Financial Results, Announces Debt and M&A Activity

GPRK

Earnings

Debt Issuance

M&A

GeoPark Limited reported revenue of $125.1 million and profit of $15.9 million for the three-month period ended September 30, 2025, with basic earnings per share of $0.31. For the nine-month period ended September 30, 2025, revenue was $382.2 million and profit was $18.6 million, with basic EPS of $0.36.
The company's Adjusted EBITDA for the nine-month period ended September 30, 2025, was $230.9 million, a decrease from $339.2 million in the prior year period.
As of September 30, 2025, GeoPark maintained a cash position of $197.0 million and reported total borrowings of $570.4 million.
In January 2025, GeoPark issued $550.0 million in senior notes due 2030 and subsequently repurchased $77.4 million nominal amount of these notes between June and September 2025.
Strategic activities included an agreement to acquire a 100% operated working interest in two blocks in Argentina's Vaca Muerta formation for $115.0 million, and the recognition of a $31.0 million impairment loss related to the divestment of assets in Ecuador.

Nov 5, 2025, 9:39 PM

6-K

GeoPark Reports Strong Q3 2025 Results, Advances Vaca Muerta Integration, and Addresses Parex Offer

GPRK

Earnings

Dividends

Takeover Bid

GeoPark reported Third Quarter 2025 Adjusted EBITDA of $71.4 million (57% margin) on $125.1 million in revenue, with net income totaling $15.9 million ($0.31 basic earnings per share).
The company achieved consolidated average oil and gas production of 28,136 boepd in 3Q2025, completed the Vaca Muerta acquisition, and outlined a long-term strategic plan targeting 42,000–46,000 boepd production and $520–550 million Adjusted EBITDA by 2030.
GeoPark announced a quarterly cash dividend of $0.03 per share and repurchased $33.0 million in aggregate principal of its 2030 Notes during 3Q2025, resulting in net debt of $373.4 million and a 1.2x leverage ratio.
The Board determined that Parex Resources' $9.00 per share offer undervalues GeoPark and has formed a Special Committee of independent directors to evaluate any revised offer and other value-maximizing alternatives.

Nov 5, 2025, 9:33 PM

Press Release

GeoPark Board Rejects Acquisition Proposal from Parex Resources

GPRK

M&A

Takeover Bid

New Projects/Investments

GeoPark Limited's Board of Directors unanimously rejected an unsolicited, non-binding all-cash acquisition proposal from Parex Resources Inc. for $9.00 per share, which was received on September 4, 2025.
The Board concluded that the proposal significantly undervalues GeoPark, fails to recognize its growth prospects and diversified portfolio, and is not in the best interests of its shareholders.
The rejection is based on the proposal not rewarding shareholders for an anticipated 46% increase in production by full-year 2028 and approximately 70% increase in adjusted EBITDA over the same period, as presented at GeoPark's Investor Day on October 21, 2025.
Parex's offer also fails to account for GeoPark's recent acquisition in Argentina's Vaca Muerta basin, which adds approximately 60 million barrels of recoverable resources and extends the 2P reserve life index to around ten years.

Oct 30, 2025, 10:00 AM

6-K

GeoPark Receives Takeover Bid from Parex Resources

GPRK

Takeover Bid

M&A

New Projects/Investments

Parex Resources Inc. submitted a proposal to acquire GeoPark for US$9.00 per share in cash, representing a 44% premium to GeoPark's share price at the time of the Proposal.
The GeoPark Board rejected this all-cash offer on October 15, 2025.
Following the rejection, Parex acquired an 11.8% ownership position in GeoPark on October 29, 2025, enabling it to call a special shareholder meeting.
The proposal values GeoPark at approximately US$940 million, including net debt.
Parex criticized GeoPark's recent capital-intensive investment in Argentina, which it believes carries significant risks.

Oct 29, 2025, 8:30 PM

Press Release

GeoPark Outlines Growth Strategy, Vaca Muerta Expansion, and Dividend Policy Shift

GPRK

M&A

New Projects/Investments

Dividends

Guidance Update

GeoPark is implementing a two-fold strategy focused on protecting existing assets and returning to growth, underpinned by operational excellence.
The company's recent acquisition of two blocks in Vaca Muerta, Argentina, is considered transformational, with a target to increase production from 2,000 barrels per day to 20,000 barrels per day within three years.
GeoPark has reduced its expected production decline for the current year from 23% to 14% and aims for a long-term production target of 40,000 to 46,000 barrels per day. The portfolio is projected to almost double EBITDA over a four-year period.
To fund growth, GeoPark will prioritize capital deployment, leading to a reduced dividend for four quarters starting this quarter, followed by a suspension of dividends as capital intensity for Vaca Muerta increases.
The company has 90% of its current production hedged and 63% of its 2026 production hedged, establishing a $65 per barrel floor for next year.

Oct 21, 2025, 12:30 PM

Transcript

GeoPark outlines new long-term strategic plan and capital allocation framework

GPRK

Guidance Update

Dividends

New Projects/Investments

GeoPark Limited has outlined a new long-term strategic plan and capital allocation framework, emphasizing a balanced portfolio with Colombia as the core and Argentina's Vaca Muerta as a transformational growth driver following the acquisition of Loma Jarillosa Este and Puesto Silva Oeste blocks.
The company provided operational and financial guidance, projecting production to increase from approximately 30,000 boepd in 2025E to 42,000-46,000 boepd by 2029-2030E, with Adjusted EBITDA expected to rise from approximately $300 million in 2025E to $520-550 million by 2029-2030E.
A revised dividend program was approved, with an expected total distribution of approximately $6 million over the next four quarters (ending with 2Q2026 results payout), followed by a dividend suspension commencing with 3Q2026 results, aligned with increased capital expenditures for Vaca Muerta.
Between June and October 2025, GeoPark completed a $100 million debt repurchase program of its Senior Notes due 2030, reducing gross financial debt by 17% (approximately $540 million) and achieving annual interest savings of $10 million.