GeoPark (NYSE: GPRK) renews Vitol offtake deal and secures up to $500m funding

Rhea-AI Filing Summary

GeoPark Limited renewed and expanded its crude oil offtake and prepayment agreement with Vitol covering 100% of production from the Llanos 34, Llanos 123 and CPO-5 blocks in Colombia. The agreement extends the term from June 2027 to December 31, 2028.

The new terms restore weighted-average netbacks to single-digit levels comparable to 2020 benchmarks and are expected to improve portfolio realizations by about US$0.33 per barrel versus the last six months, supporting stronger margins and cash-flow visibility. Deliveries start in January 2026 for Llanos 34 and May 2026 for CPO-5 and Llanos 123.

GeoPark will also have access to a Vitol prepayment facility of up to $500 million, including $330 million of committed availability and an option for a further $170 million. Drawn amounts accrue interest at one-month SOFR plus 3.50% per year, currently about 7.15–7.25%, and can be repaid through future oil deliveries or prepaid without penalty.

Insights

Energy credit and offtake analyst

Renewed Vitol deal locks in pricing and up to $500m funding.

GeoPark has renewed its Colombian offtake agreement so Vitol buys 100% of crude from Llanos 34, Llanos 123 and CPO-5 through December 31, 2028. Restoring weighted-average netbacks to single-digit levels comparable to 2020 benchmarks and adding about US$0.33 per barrel to realizations should support higher operating margins.

The package includes a prepayment facility of up to $500 million, with $330 million firmly committed and an option for another $170 million. This can be drawn and repaid via future oil deliveries or prepaid without penalty, giving flexible, asset-backed liquidity.

Pricing for any drawn amounts is tied to one-month term SOFR plus 3.50%, currently about 7.15–7.25% using a 3.69% SOFR as of January 26, 2026, and represents a 25-basis-point margin reduction versus the prior Vitol agreement. Funds are committed until June 30, 2027, so subsequent disclosures may clarify how much GeoPark actually draws under this facility.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-36298

GeoPark Limited

(Exact name of registrant as specified in its charter)

Calle 94 N° 11-30 8° piso

Bogota, Colombia

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X Form 40-F

GEOPARK LIMITED

TABLE OF CONTENTS

ITEM
1.	Press Release dated January 28, 2026, titled “GeoPark Renews Offtake Agreement with Vitol in Colombia”

Item 1

 

FOR IMMEDIATE DISTRIBUTION

GEOPARK RENEWS OFFTAKE AGREEMENT WITH VITOL IN COLOMBIA

IMPROVED PRICE REALIZATIONS AND LOWER-COST FLEXIBLE FUNDING OF UP TO $500 MILLION

Bogota, Colombia – January 28, 2026 – GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, today announced the renewal of its offtake and prepayment agreement with Vitol, extending the term and expanding the scope of collaboration across the Llanos basin in Colombia.

The new offtake agreement provides for GeoPark to sell and deliver to Vitol 100% of its crude oil production from the Llanos 34 (operated, 45% WI), Llanos 123 (operated, 50% WI), and CPO-5 (non-operated, 30% WI) blocks, extending the current agreement from its original expiry in June 2027 through December 31, 2028.

The renewed terms restore GeoPark’s weighted-average netbacks to single-digit levels, comparable to 2020 benchmarks, effectively offsetting the cumulative impact of midstream tariff adjustments and inflationary trends over the past five years. Portfolio realizations are expected to improve by approximately US$0.33 per barrel on a weighted-average basis compared to the Company’s average over the past six months, supporting stronger margins and improved cash-flow visibility. The new terms take effect in January 2026, with deliveries beginning in January 2026 for Llanos 34 and in May 2026 for CPO-5 and Llanos 123, and remaining in force through December 31, 2028.

As part of the renewal, GeoPark will have access to a prepayment facility from Vitol that provides for a total of up to $500 million, consisting of a firm $330 million committed availability with an option to increase the availability by up to another $170 million in prepaid future oil sales over the period of the offtake contract. The renewed prepayment facility reflects the strength of GeoPark’s operational delivery in the Llanos basin, and builds on the track record established under the prior agreement.

Amounts under the facility do not constitute a mandatory funding requirement and if drawn can be repaid through future oil deliveries or prepaid at any time without penalty. The interest cost for any drawn amounts is based on a one-month term SOFR risk-free rate plus a margin of 3.50% per annum, representing a 25-bps reduction versus the prior prepayment agreement with Vitol, and, together with the decline in SOFR, would currently be equivalent to an interest rate of approximately 7.15–7.25%¹. Funds committed by Vitol will be made available until June 30, 2027, subject to certain conditions.

The prepayment facility is an integral feature of the improved commercial framework agreed with Vitol, enhancing GeoPark’s financial flexibility and resilience under current market conditions while providing further optionality and certainty of funding to support the execution of the Company’s strategic plans for the 2026–2028 period and beyond.

Vitol is one of the world’s leading energy and commodity companies, and its strong presence and operations in Colombia and Latin America includes a well-established commercial relationship with GeoPark. 

______________________ 

¹ Calculated using the One-Month Term SOFR of 3.69% as of January 26, 2026. 

For further information, please contact:

INVESTORS:

Maria Catalina Escobar  Shareholder Value and Capital Markets Director	mescobar@geo-park.com
Miguel Bello  Investor Relations Officer	mbello@geo-park.com
Maria Alejandra Velez  Investor Relations Leader	mvelez@geo-park.com

MEDIA:

Communications Department communications@geo-park.com

NOTICE

Additional information about GeoPark can be found in the “Invest with Us” section on the website at www.geo-park.com.

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentages included in this press release have not in all cases been calculated on the basis of such rounded amounts, but on the basis of such amounts prior to rounding. For this reason, certain percentages in this press release may vary from those obtained by performing the same calculations on the basis of the amounts in the financial statements. Similarly, certain other amounts included in this press release may not sum due to rounding.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including, drilling campaign, production guidance, capital expenditures, and projected Adjusted EBITDA, ROACE, net debt to EBITDA, and net debt to EBITDA leverage ratio. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

Oil and gas production figures included in this release are stated before the effect of royalties paid in kind, consumption and losses. Annual production per day is obtained by dividing total production by 365 days.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			GeoPark Limited
			By:	/s/ Jaime Caballero Uribe
				Name:	Jaime Caballero Uribe
				Title:	Chief Financial Officer

Date: January 28, 2026

FAQ

What did GeoPark (GPRK) announce regarding its Vitol offtake agreement in Colombia?

GeoPark announced it renewed and expanded its crude oil offtake agreement with Vitol in Colombia. The deal now runs through December 31, 2028 and covers 100% of production from the Llanos 34, Llanos 123, and CPO-5 blocks, strengthening commercial stability.

How does the renewed Vitol agreement affect GeoPark (GPRK) oil price realizations?

The renewed Vitol agreement restores GeoPark’s weighted-average netbacks to single-digit levels comparable to 2020 benchmarks. It is expected to increase portfolio realizations by about US$0.33 per barrel versus the average of the past six months, supporting stronger margins and clearer cash-flow visibility.

What is the size and structure of GeoPark’s new prepayment facility with Vitol?

GeoPark obtained access to a prepayment facility of up to $500 million from Vitol. It includes $330 million of committed availability and an option to increase by up to $170 million in prepaid future oil sales over the offtake contract period, enhancing funding flexibility.

What interest rate applies to GeoPark (GPRK) borrowings under the Vitol prepayment facility?

Any amounts drawn under the Vitol prepayment facility accrue interest at a one-month term SOFR plus 3.50% per year. Using a 3.69% SOFR as of January 26, 2026, this equates to an interest rate of about 7.15–7.25%, 25 basis points lower than the prior agreement.

When do deliveries under GeoPark’s renewed offtake agreement with Vitol begin and end?

Under the renewed agreement, deliveries from the Llanos 34 block begin in January 2026, while deliveries from CPO-5 and Llanos 123 begin in May 2026. The contract remains in force for all three blocks through December 31, 2028, extending the previous June 2027 expiry.

How can GeoPark (GPRK) repay amounts drawn under the Vitol prepayment facility?

Amounts drawn under the facility can be repaid through future oil deliveries to Vitol or prepaid at any time without penalty. This structure links repayment to production volumes while allowing GeoPark to reduce or retire the facility early if surplus cash becomes available.