GeoPark (NYSE: GPRK) adds $107M equity, posts $34M profit

Rhea-AI Filing Summary

GeoPark Limited reported much stronger results for the three and six months ended June 30, 2026. Revenue reached US$ 143.3 million in the quarter and US$ 271.7 million year to date, with operating profit of US$ 40.8 million in Q2 and net profit of US$ 34.2 million for the half-year, compared with US$ 2.7 million a year earlier. Basic EPS was US$ 0.22 in Q2 and US$ 0.57 for the six months.

Cash flow from operating activities was US$ 158.4 million, supporting higher investment and financing activity. Cash and cash equivalents rose to US$ 316.3 million, while total borrowings increased to US$ 634.0 million. Adjusted EBITDA for the six months was US$ 144.4 million. Commodity hedges generated a realized loss of US$ 51.4 million and a derivative liability of US$ 20.2 million at period end, partly offsetting benefits from higher Brent prices and contributing to a consolidated effective tax rate of 47% for the half-year.

Equity was strengthened by a US$ 107 million strategic investment by Grupo Gilinski’s affiliate Colden, which acquired 12.9 million new shares at US$ 8.31 per share and gained significant board representation. GeoPark also recorded a US$ 25 million break-up fee from a terminated Colombian asset acquisition and paid cash dividends totaling US$ 3.4 million in 2026.

Positive

• Half-year net profit increased to US$ 34.2 million from US$ 2.7 million, with operating cash flow of US$ 158.4 million and cash of US$ 316.3 million, materially improving GeoPark’s financial position.
• A strategic equity investment brought in US$ 107 million of new capital at US$ 8.31 per share, strengthening equity to US$ 364.5 million and adding an aligned long-term shareholder with board representation.

Negative

• Commodity hedging produced a realized loss of US$ 51.4 million and a period-end derivative liability of US$ 20.2 million, limiting the net benefit from higher oil prices.
• Total borrowings rose to US$ 634.0 million, with current borrowings increasing to US$ 192.5 million, raising near-term refinancing and repayment needs despite ample liquidity.

Filing Explained

At June 30, 2026, GeoPark had US$20,212,000 of commodity-hedging liabilities and access to committed and uncommitted borrowing capacity.

GeoPark’s Form 6-K furnishes interim information for the periods ended June 30, 2026; for common holders, its structural detail is continuing oil-price hedging and financing capacity rather than a new ownership change.

The company’s hedges are cash-flow instruments whose effective fair-value changes are recorded in other reserves and later reclassified into revenue as the hedged sales occur.

At June 30, the filing reported a US$20,212,000 commodity-hedging liability: US$6,486,000 had been realized and settled in cash in July, while US$13,726,000 represented the unrealized valuation of outstanding positions.

The liquidity disclosure separates committed borrowing access from maximum or uncommitted capacity: up to US$280,000,000 of Vitol facilities, a US$95,000,000 senior unsecured agreement, and US$170,550,000 of uncommitted credit lines were available at June 30; these are access limits, not cash proceeds already received.

Key Figures

Revenue H1 2026: US$ 271,698,000 Net profit H1 2026: US$ 34,188,000 Adjusted EBITDA H1 2026: US$ 144,383,000 +5 more

8 metrics

Revenue H1 2026 US$ 271,698,000 Six-month period ended June 30, 2026 consolidated revenue

Net profit H1 2026 US$ 34,188,000 Profit for the six-month period ended June 30, 2026

Adjusted EBITDA H1 2026 US$ 144,383,000 Group Adjusted EBITDA for the six months ended June 30, 2026

Cash and cash equivalents US$ 316,259,000 Balance at June 30, 2026 on the statement of financial position

Total borrowings US$ 634,038,000 Borrowings outstanding at June 30, 2026, including notes and local debt

Strategic equity investment US$ 107,000,000 Amount invested by Colden for 12,876,053 new shares at US$ 8.31 per share

Realized hedge loss US$ 51,404,000 Realized loss on commodity risk management contracts reclassified to income in H1 2026

Operating cash flow US$ 158,409,000 Net cash flows from operating activities for the six months ended June 30, 2026

Key Terms

Adjusted EBITDA, cash flow hedges, zero-premium 3 ways, asset retirement obligation, +2 more

6 terms

Adjusted EBITDA financial

"The Executive Committee assesses the performance of the operating segments based on a measure of Adjusted EBITDA."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

cash flow hedges financial

"The Group’s derivatives are designated and qualify as cash flow hedges."

A cash flow hedge is an accounting label companies use when they enter financial contracts—like currency or interest-rate agreements—to protect expected future cash payments or receipts from unpredictable moves. For investors, it signals that the company is trying to smooth out future cash variability (think of locking in a price to avoid surprises), which can reduce reported profit swings but also means the company has exposure to derivative instruments and their associated risks.

zero-premium 3 ways financial

"These derivatives are zero-premium collars and zero-premium 3 ways (put spread plus call)."

asset retirement obligation financial

"Assets retirement obligation amounted to 18,802 as of June 30, 2026."

A liability recorded for the future cost to retire, dismantle or clean up a long-lived asset — for example removing an oil rig, closing a mine, or decommissioning a plant. Investors care because it reduces reported profit and ties up capital: companies must estimate and set aside money now for a known future expense, and changes to that estimate can swing earnings, debt ratios and the company’s cash needs much like setting aside savings to repair or return a rented property later.

cross-currency swap financial

"The Group entered into a cross-currency swap arrangement with Citibank N.A., New York."

A cross-currency swap is a contract where two parties exchange loan payments in different currencies — typically swapping both principal and interest at the start and end — so each party effectively borrows in the other’s currency. For investors, these swaps matter because they change a company’s actual currency exposure and borrowing costs, affecting cash flow predictability, balance-sheet risk and the way foreign earnings translate into reported results, similar to rearranging which currency a loan is paid in.

ISDA Master Agreements financial

"The Group entered into the derivatives under ISDA Master Agreements and Credit Support Annexes."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did GeoPark (GPRK) perform financially in the first half of 2026?

GeoPark reported net profit of US$ 34.2 million on US$ 271.7 million of revenue in the first half of 2026. Operating profit was US$ 98.8 million, Adjusted EBITDA reached US$ 144.4 million, and basic EPS was US$ 0.57.

What is GeoPark (GPRK)’s liquidity and debt position as of June 30, 2026?

GeoPark held US$ 316.3 million in cash and cash equivalents and total borrowings of US$ 634.0 million at June 30, 2026. It also had access to US$ 280 million in Vitol prepayment facilities, a US$ 95 million credit agreement, and US$ 170.6 million in uncommitted lines.

What is the Grupo Gilinski strategic investment in GeoPark (GPRK)?

An affiliate of Grupo Gilinski, Colden, invested US$ 107 million to buy 12,876,053 new GeoPark shares at US$ 8.31 per share. Colden became the largest shareholder, initially near 20%, with rights to nominate up to three directors to the nine-member board.

How did commodity hedging impact GeoPark (GPRK)’s 2026 results?

Commodity hedges generated a realized loss of US$ 51.4 million that reduced reported revenue and earnings. At June 30, 2026, GeoPark also carried a hedge-related derivative liability of US$ 20.2 million, reflecting unrealized mark-to-market losses amid higher forward oil prices.

What dividends did GeoPark (GPRK) distribute in 2026 so far?

GeoPark’s board declared cash dividends of US$ 0.03 and US$ 0.023 per share, paid on March 31 and June 4, 2026. Total cash distributions recognized in the period were US$ 3.4 million, as reflected in the statement of changes in equity and cash flow statement.

What happened with GeoPark (GPRK)’s proposed acquisition of Frontera’s Colombian assets?

GeoPark agreed to acquire Frontera’s Colombian E&P assets and paid a US$ 75 million deposit, but chose not to match a superior offer. It received a US$ 25 million break-up fee and had the deposit plus US$ 0.3 million interest returned in March 2026.

How did oil price volatility affect GeoPark (GPRK) in Q2 2026?

Brent prices averaged about US$ 97 per barrel in Q2 2026, peaking near US$ 118. Higher prices supported revenue but increased royalties, contractual price-sharing and tax surcharges, while hedge ceilings and realized hedge losses limited the full upside for GeoPark.

Table of Contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

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

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For the month of August 2026

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Commission File Number: 001-36298

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GeoPark Limited

(Exact name of registrant as specified in its charter)

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Calle 94 N° 11-30 Piso 8

Bogota, Colombia

(Address of principal executive office)

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

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Form 20-F X Form 40-F

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Table of Contents

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GEOPARK LIMITED

TABLE OF CONTENTS

ITEM

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1.	Interim Condensed Consolidated Financial Statements and Explanatory Notes for the three-month and six-month periods ended June 30, 2026 and 2025.

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Table of Contents

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Item 1

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GEOPARK LIMITED

INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

AND EXPLANATORY NOTES

For the three-month and six-month periods ended June 30, 2026 and 2025

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Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONTENTS

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Page	​
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3	Condensed Consolidated Statement of Income
4	Condensed Consolidated Statement of Comprehensive Income
5	Condensed Consolidated Statement of Financial Position
6	Condensed Consolidated Statement of Changes in Equity
7	Condensed Consolidated Statement of Cash Flow
8	Explanatory Notes to the Interim Condensed Consolidated Financial Statements

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Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONDENSED CONSOLIDATED STATEMENT OF INCOME

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	​	​	period ended	​	period ended	​	period ended	​	period ended
​	​	​	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Amounts in US$ ´000	​	Note	​	(Unaudited)	​	(Unaudited)	​	(Unaudited)	​	(Unaudited)
REVENUE	​	3	​	143,325	​	119,787	​	271,698	​	257,136
Production and operating costs	​	5	​	(53,064)	​	(32,597)	​	(90,715)	​	(68,034)
Geological and geophysical expenses	​	6	​	(1,749)	​	(2,949)	​	(4,521)	​	(5,402)
Administrative expenses	​	7	​	(10,717)	​	(9,120)	​	(18,551)	​	(18,176)
Selling expenses	​	8	​	(4,447)	​	(2,965)	​	(13,207)	​	(5,133)
Depreciation	​	​	​	(30,063)	​	(28,988)	​	(56,050)	​	(61,033)
Write-off of unsuccessful exploration efforts	​	11	​	(2,031)	​	—	​	(3,778)	​	(5,883)
Impairment loss for non-financial assets	​	11	​	—	​	(30,989)	​	—	​	(30,989)
Other (expenses) income, net (a)	​	​	​	(437)	​	(5,047)	​	13,953	​	(4,938)
OPERATING PROFIT	​	​	​	40,817	​	7,132	​	98,829	​	57,548
Financial expenses	​	9	​	(18,415)	​	(19,047)	​	(35,928)	​	(43,883)
Financial income	​	9	​	2,768	​	9,172	​	4,312	​	12,396
Foreign exchange loss	​	9	​	(1,765)	​	—	​	(2,310)	​	(3,288)
PROFIT (LOSS) BEFORE INCOME TAX	​	​	​	23,405	​	(2,743)	​	64,903	​	22,773
Income tax expense	​	10	​	(9,400)	​	(7,592)	​	(30,715)	​	(20,039)
PROFIT (LOSS) FOR THE PERIOD	​	​	​	14,005	​	(10,335)	​	34,188	​	2,734
Earnings (Losses) per share (in US$). Basic	​	​	​	0.22	​	(0.20)	​	0.57	​	0.05
Earnings (Losses) per share (in US$). Diluted	​	​	​	0.21	​	(0.20)	​	0.56	​	0.05

(a) During the six-month period ended June 30, 2026, it includes (i) a US$ 25,000,000 break-up fee received from the unconsummated acquisition of Frontera Energy’s E&P assets (see Note 19), (ii) related transactions costs incurred in connection with such unconsummated acquisition, (iii) other non-recurring costs associated with corporate transactions, including the strategic equity investment by Grupo Gilinski (see Note 13), and (iv) a temporary net worth tax applicable to legal entities in Colombia for the 2026 tax year.

The above condensed consolidated statement of income should be read in conjunction with the accompanying notes.

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3

Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
​	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Amounts in US$ ´000	​	(Unaudited)	​	(Unaudited)	​	(Unaudited)	​	(Unaudited)
Profit (Loss) for the period	​	14,005	​	(10,335)	​	34,188	​	2,734
Other comprehensive income (loss)	​	​	​	​	​	​	​	​
Items that may be subsequently reclassified to profit or loss:	​	​	​	​	​	​	​	​
Currency translation differences	​	87	​	(7)	​	255	​	12
Profit (Loss) on cash flow hedges (a)	​	105,619	​	14,517	​	(35,903)	​	15,319
Income tax (expense) benefit relating to cash flow hedges	​	(47,528)	​	(4,904)	​	13,939	​	(5,402)
Other comprehensive profit (loss) for the period	​	58,178	​	9,606	​	(21,709)	​	9,929
Total comprehensive profit (loss) for the period	​	72,183	​	(729)	​	12,479	​	12,663

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(a) Unrealized result on commodity risk management contracts designated as cash flow hedges. See Note 4.

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The above condensed consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

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4

Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

​	​	​	​	​	​	​
​	​	Note	​	At June 30, 2026	​	Year ended
Amounts in US$ ´000	​	​	​	(Unaudited)	​	December 31, 2025
ASSETS	​	​	​	​	​	​
NON CURRENT ASSETS	​	​	​	​	​	​
Property, plant and equipment	​	11	​	821,127	​	775,686
Right-of-use assets	​	​	​	18,911	​	20,496
Prepayments and other receivables	​	12	​	4,352	​	3,990
Other financial assets	​	​	​	14	​	12
Deferred income tax asset	​	​	​	24,083	​	20,579
TOTAL NON CURRENT ASSETS	​	​	​	868,487	​	820,763
CURRENT ASSETS	​	​	​	​	​	​
Inventories	​	​	​	7,807	​	12,379
Trade receivables	​	​	​	51,929	​	39,095
Prepayments and other receivables	​	12	​	41,662	​	42,394
Derivative financial instrument assets	​	17	​	2,564	​	25,498
Other financial assets	​	​	​	1,329	​	—
Cash and cash equivalents	​	​	​	316,259	​	100,318
TOTAL CURRENT ASSETS	​	​	​	421,550	​	219,684
TOTAL ASSETS	​	​	​	1,290,037	​	1,040,447
EQUITY	​	​	​	​	​	​
Equity attributable to owners of the Company	​	​	​	​	​	​
Share capital	​	13	​	65	​	52
Share premium	​	13	​	190,259	​	79,716
Translation reserve	​	​	​	(11,351)	​	(11,606)
Other reserves	​	​	​	5,680	​	27,644
Retained earnings	​	​	​	179,861	​	149,991
TOTAL EQUITY	​	​	​	364,514	​	245,797
LIABILITIES	​	​	​	​	​	​
NON CURRENT LIABILITIES	​	​	​	​	​	​
Borrowings	​	14	​	441,567	​	535,080
Lease liabilities	​	​	​	20,981	​	18,889
Provisions and other long-term liabilities	​	15	​	30,823	​	24,630
Deferred income tax liability	​	​	​	71,834	​	78,821
TOTAL NON CURRENT LIABILITIES	​	​	​	565,205	​	657,420
CURRENT LIABILITIES	​	​	​	​	​	​
Borrowings	​	14	​	192,471	​	18,467
Lease liabilities	​	​	​	5,116	​	7,106
Derivative financial instrument liabilities	​	17	​	20,212	​	620
Current income tax liabilities	​	​	​	3,308	​	—
Trade and other payables	​	16	​	139,211	​	111,037
TOTAL CURRENT LIABILITIES	​	​	​	360,318	​	137,230
TOTAL LIABILITIES	​	​	​	925,523	​	794,650
TOTAL EQUITY AND LIABILITIES	​	​	​	1,290,037	​	1,040,447

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The above condensed consolidated statement of financial position should be read in conjunction with the accompanying notes.

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5

Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

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Attributable to owners of the Company

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Retained

​

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​

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​

​

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​

earnings

​

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​

Share

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Share

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Translation

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Other

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(Accumulated

​

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Amount in US$ ´000

​

Capital

​

Premium

​

Reserve

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Reserve

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losses)

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Total

Equity at January 1, 2025

​

51

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73,750

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(11,590)

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15,053

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126,027

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203,291

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

Profit for the six-month period

​

—

​

—

​

—

​

—

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2,734

​

2,734

Other comprehensive profit for the period

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—

​

—

​

12

​

9,917

​

—

​

9,929

Total comprehensive profit for the period ended June 30, 2025

​

—

​

—

​

12

​

9,917

​

2,734

​

12,663

Transactions with owners:

​

​

​

​

​

​

​

​

​

​

​

​

Share-based payment

​

1

​

4,759

​

—

​

—

​

(2,207)

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2,553

Cash distribution

​

—

​

—

​

—

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—

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(15,084)

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(15,084)

Total transactions with owners for the period ended June 30, 2025

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1

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4,759

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—

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—

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(17,291)

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(12,531)

Balance at June 30, 2025 (Unaudited)

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52

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78,509

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(11,578)

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24,970

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111,470

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203,423

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​

​

​

​

​

​

​

​

​

​

​

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Equity at January 1, 2026

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52

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79,716

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(11,606)

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27,644

​

149,991

​

245,797

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

Profit for the six-month period

​

—

​

—

​

—

​

—

​

34,188

​

34,188

Other comprehensive profit (loss) for the period

​

—

​

—

​

255

​

(21,964)

​

—

​

(21,709)

Total comprehensive profit (loss) for the period ended June 30, 2026

​

—

​

—

​

255

​

(21,964)

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34,188

​

12,479

Transactions with owners:

​

​

​

​

​

​

​

​

​

​

​

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Issue of share capital (Note 13)

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13

​

106,987

​

—

​

—

​

—

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107,000

Share-based payment

​

—

​

3,556

​

—

​

—

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(892)

​

2,664

Cash distribution

​

—

​

—

​

—

​

—

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(3,426)

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(3,426)

Total transactions with owners for the period ended June 30, 2026

​

13

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110,543

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—

​

—

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(4,318)

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106,238

Balance at June 30, 2026 (Unaudited)

​

65

​

190,259

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(11,351)

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5,680

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179,861

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364,514

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The above condensed consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

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Table of Contents

GEOPARK LIMITED

June 30, 2026

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW

​	​	​	​	​
​	​	Six-month	​	Six-month
​	​	period ended	​	period ended
​	​	June 30, 2026	​	June 30, 2025
Amounts in US$ ´000	​	(Unaudited)	​	(Unaudited)
Operating activities	​	​	​	​
Profit for the period	​	34,188	​	2,734
Adjustments for:	​	​	​	​
Income tax expense	​	30,715	​	20,039
Depreciation	​	56,050	​	61,033
Loss on disposal of property, plant and equipment	​	76	​	29
Impairment loss for non-financial assets	​	—	​	30,989
Write-off of unsuccessful exploration efforts	​	3,778	​	5,883
Borrowings cancellation costs	​	—	​	1,262
Amortization of other long-term liabilities	​	(46)	​	(45)
Accrual of borrowing interests	​	25,172	​	25,512
Unwinding of long-term liabilities	​	2,469	​	2,847
Accrual of share-based payment	​	2,664	​	2,553
Foreign exchange loss	​	3,158	​	4,067
Income tax paid (a)	​	(5,295)	​	(85,539)
Change in working capital (b)	​	5,480	​	(157,171)
Cash flows from (used in) operating activities - net	​	158,409	​	(85,807)
Investing activities	​	​	​	​
Purchase of property, plant and equipment	​	(98,359)	​	(46,551)
Unconsummated transaction in Argentina (c)	​	—	​	38,000
Proceeds from divestment of long-term assets (d)	​	1,838	​	16,038
Cash flows from (used in) investing activities - net	​	(96,521)	​	7,487
Financing activities	​	​	​	​
Proceeds from issuance of shares (Note 13)	​	107,000	​	—
Proceeds from borrowings (Note 14)	​	77,000	​	550,000
Debt issuance costs paid	​	—	​	(5,034)
Principal paid	​	—	​	(444,384)
Interest paid	​	(23,870)	​	(16,121)
Lease payments	​	(2,616)	​	(2,931)
Cash distribution	​	(3,426)	​	(15,084)
Cash flows from financing activities - net	​	154,088	​	66,446
Net increase (decrease) in cash and cash equivalents	​	215,976	​	(11,874)
Cash and cash equivalents at January 1	​	100,318	​	276,750
Currency translation differences	​	(35)	​	1,162
Cash and cash equivalents at the end of the period	​	316,259	​	266,038
Ending Cash and cash equivalents are specified as follows:	​	​	​	​
Cash at bank and bank deposits	​	316,257	​	266,029
Cash in hand	​	2	​	9
Cash and cash equivalents	​	316,259	​	266,038

​

(a) Includes self-withholding taxes of US$ 5,295,000 and US$ 7,786,000 during the six-month periods ended June 30, 2026 and 2025, respectively.

(b) Includes withholding taxes from clients of US$ 9,720,000 and US$ 7,169,000 during the six-month periods ended June 30, 2026 and 2025, respectively. In 2025, it also included a partial repayment of an advance payment drawn from the offtake and prepayment agreement with Vitol of US$ 149,137,000 (see Note 29.1 to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(c) Reimbursement of advance payment for a proposed acquisition in Argentina (see Note 34.5 to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(d) Net cash received from the divestments of the Manati gas field in Brazil, the Perico and Espejo Blocks in Ecuador and the Llanos 32 Block in Colombia (see Note 34.2, 34.3 and 34.4, respectively, to the annual consolidated financial statements as of and for the year ended December 31, 2025).

The above condensed consolidated statement of cash flow should be read in conjunction with the accompanying notes.

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​

EXPLANATORY NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1

General information

GeoPark Limited (the “Company”) is a company incorporated under the laws of Bermuda. The registered office address is Clarendon House, 2 Church Street, Hamilton HM11, Bermuda.

The principal activity of the Company and its subsidiaries (the “Group” or “GeoPark”) is the exploration, development and production for oil and gas reserves in Latin America.

These interim condensed consolidated financial statements were authorized for issue by the Board of Directors on August 3, 2026.

Basis of Preparation

The interim condensed consolidated financial statements of GeoPark Limited are presented in accordance with IAS 34 “Interim Financial Reporting”. They do not include all of the information required for full annual financial statements and should be read in conjunction with the annual consolidated financial statements as of and for the year ended December 31, 2025, which have been prepared in accordance with IFRS.

The interim condensed consolidated financial statements have been prepared in accordance with the accounting policies applied in the most recent annual consolidated financial statements. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. The amendments and interpretations detailed in the annual consolidated financial statements as of and for the year ended December 31, 2025, that apply for the first time in 2026, do not have an impact on the interim condensed consolidated financial statements of the Group.

Whenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in the current period.

Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss.

The activities of the Group are not subject to significant seasonal changes.

Estimates

The preparation of interim financial information requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. Actual results may differ from these estimates.

In preparing these interim condensed consolidated financial statements, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the annual consolidated financial statements as of and for the year ended December 31, 2025.

Financial risk management

The Group’s activities expose it to a variety of financial risks: currency risk, price risk, credit risk concentration, funding and liquidity risk, interest risk and capital risk. The interim condensed consolidated financial statements do not include all the financial risk management information and disclosures required in the annual consolidated financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of and for the year ended December 31, 2025.

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Note 1 (Continued)

Financial risk management (Continued)

The Group is continually reviewing its exposure to the current market conditions and adjusting its capital expenditures program which remains flexible and quickly adaptable to different oil price scenarios. GeoPark also continues to add new oil hedges, increasing its price risk protection within the upcoming fifteen months.

As of June 30, 2026, the Group maintained a cash position of US$ 316,259,000, had access to up to US$ 280,000,000 of committed prepayment facilities with Vitol C.I. Colombia S.A.S. (“Vitol”), a US$ 95,000,000 senior unsecured credit agreement with Banco BTG Pactual S.A. and Banco Latinoamericano de Comercio Exterior S.A., and US$ 170,550,000 in uncommitted credit lines (including US$ 72,500,000 in Argentina). Additionally, GeoPark Argentina S.A., the Group’s Argentine subsidiary, has approval from the Argentine securities regulator to issue up to US$ 500,000,000 in debt securities and, in February 2026, entered into an unsecured committed credit facility with Banco Galicia y Buenos Aires S.A. for up to US$ 38,000,000.

Subsidiary undertakings

The following chart illustrates the main companies of the Group structure as of June 30, 2026:

Details of the subsidiaries and joint operations of the Group are set out in Note 19 to the annual consolidated financial statements as of and for the year ended December 31, 2025.

​

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Note 2

Segment information

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Executive Committee. This committee is integrated by the Chief Executive Officer, Chief Financial Officer, Chief Exploration and Development Officer, Chief Operating Officer and Chief People Officer. This committee reviews the Group’s internal reporting to assess performance and allocate resources. Management has determined the operating segments based on these reports. The committee considers the business from a geographic perspective.

The Executive Committee assesses the performance of the operating segments based on a measure of Adjusted EBITDA. Adjusted EBITDA is defined as profit (loss) for the period (determined as if IFRS 16 Leases has not been adopted), before net finance results, income tax, depreciation, amortization, certain non-cash items such as impairments and write-offs of unsuccessful exploration efforts, accrual of share-based payment, unrealized result on commodity risk management contracts, geological and geophysical expenses allocated to capitalized projects, and other non-recurring events. Other information provided to the Executive Committee is measured in a manner consistent with that in the consolidated financial statements.

Six-month period ended June 30, 2026:

​	​	​	​	​	​	​	​	​	​	​
Amounts in US$ ´000	​	Total	​	Colombia	​	Argentina	​	Other (a)	​	Corporate
Revenue	​	271,698	​	253,289	​	18,409	​	—	​	—
Sale of crude oil	​	323,062	​	304,693	​	18,369	​	—	​	—
Sale of gas	​	40	​	—	​	40	​	—	​	—
Commodity risk management contracts designated as cash flow hedges	​	(51,404)	​	(51,404)	​	—	​	—	​	—
Production and operating costs	​	(90,715)	​	(81,215)	​	(9,500)	​	—	​	—
Royalties in cash	​	(6,234)	​	(3,971)	​	(2,263)	​	—	​	—
Economic rights in cash	​	(2,553)	​	(2,553)	​	—	​	—	​	—
Share-based payment	​	(144)	​	(116)	​	(28)	​	—	​	—
Operating costs	​	(81,784)	​	(74,575)	​	(7,209)	​	—	​	—
Depreciation	​	(56,050)	​	(51,308)	​	(4,742)	​	—	​	—
Adjusted EBITDA	​	144,383	​	144,529	​	3,885	​	(572)	​	(3,459)

​

Six-month period ended June 30, 2025:

​	​	​	​	​	​	​	​	​	​	​
Amounts in US$ '000	​	Total	​	Colombia	​	Argentina	​	Other (a)	​	Corporate
Revenue	​	257,136	​	243,477	​	—	​	13,240	​	419
Sale of crude oil	​	251,388	​	238,824	​	—	​	12,564	​	—
Sale of purchased crude oil	​	419	​	—	​	—	​	—	​	419
Sale of gas	​	676	​	—	​	—	​	676	​	—
Commodity risk management contracts designated as cash flow hedges	​	4,653	​	4,653	​	—	​	—	​	—
Production and operating costs	​	(68,034)	​	(60,583)	​	—	​	(7,134)	​	(317)
Royalties in cash	​	(2,460)	​	(2,414)	​	—	​	(46)	​	—
Economic rights in cash	​	(1,635)	​	(1,635)	​	—	​	—	​	—
Share-based payment	​	(246)	​	(218)	​	—	​	(28)	​	—
Operating costs	​	(63,693)	​	(56,316)	​	—	​	(7,060)	​	(317)
Depreciation	​	(61,033)	​	(56,650)	​	—	​	(4,383)	​	—
Adjusted EBITDA	​	159,455	​	161,326	​	(2,138)	​	2,899	​	(2,632)

(a) Includes the Brazil and Ecuador segments. The divestments of working interests in the Manati gas field in Brazil and the Perico and Espejo Blocks in Ecuador were completed in December 2025 (see Notes 34.2 and 34.3, respectively, to the annual consolidated financial statements as of and for the year ended December 31, 2025).

​

​

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Note 2 (Continued)

Segment information (Continued)

​	​	​	​	​	​	​	​	​	​	​
Total Assets	​	Total	​	Colombia	​	Argentina	​	Other (a)	​	Corporate (b)
June 30, 2026	​	1,290,037	​	991,761	​	198,687	​	8,680	​	90,909
December 31, 2025	​	1,040,447	​	867,288	​	158,596	​	10,239	​	4,324

(a) Includes the Brazil and Ecuador segments. The divestments of working interests in the Manati gas field in Brazil and the Perico and Espejo Blocks in Ecuador were completed in December 2025 (see Notes 34.2 and 34.3, respectively, to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(b) The increase in 2026 mainly relates to cash received from the equity investment by Grupo Gilinski (see Note 13).

A reconciliation of Adjusted EBITDA to Profit for the period is provided as follows:

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
​	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Adjusted EBITDA	​	73,101	​	71,511	​	144,383	​	159,455
Depreciation (a)	​	(30,063)	​	(28,988)	​	(56,050)	​	(61,033)
Write-off of unsuccessful exploration efforts	​	(2,031)	​	—	​	(3,778)	​	(5,883)
Impairment loss for non-financial assets	​	—	​	(30,989)	​	—	​	(30,989)
Share-based payment	​	(1,290)	​	(1,020)	​	(2,664)	​	(2,553)
Lease accounting - IFRS 16	​	1,349	​	1,442	​	2,616	​	2,931
Others (b)	​	(249)	​	(4,824)	​	14,322	​	(4,380)
Operating profit	​	40,817	​	7,132	​	98,829	​	57,548
Financial expenses	​	(18,415)	​	(19,047)	​	(35,928)	​	(43,883)
Financial income	​	2,768	​	9,172	​	4,312	​	12,396
Foreign exchange loss	​	(1,765)	​	—	​	(2,310)	​	(3,288)
Profit (loss) before income tax	​	23,405	​	(2,743)	​	64,903	​	22,773
Income tax expense	​	(9,400)	​	(7,592)	​	(30,715)	​	(20,039)
Profit (loss) for the period	​	14,005	​	(10,335)	​	34,188	​	2,734

(a) Net of capitalized costs for oil stock included in Inventories.

(b) Includes allocation to capitalized projects. During the six-month period ended June 30, 2026, it also includes (i) a US$ 25,000,000 break-up fee received from the unconsummated acquisition of Frontera Energy’s E&P assets (see Note 19), (ii) related transactions costs incurred in connection with such unconsummated acquisition, (iii) other non-recurring costs associated with corporate transactions, including the strategic equity investment by Grupo Gilinski (see Note 13), and (iv) a temporary net worth tax applicable to legal entities in Colombia for the 2026 tax year.

Note 3

Revenue

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Sale of crude oil	​	184,494	​	114,243	​	323,062	​	251,388
Sale of purchased crude oil	​	—	​	—	​	—	​	419
Sale of gas	​	11	​	676	​	40	​	676
Commodity risk management contracts designated as cash flow hedges (a)	​	(41,180)	​	4,868	​	(51,404)	​	4,653
​	​	143,325	​	119,787	​	271,698	​	257,136

(a) Realized result on commodity risk management contracts designated as cash flow hedges. See Note 4.

​

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Note 4

Commodity risk management contracts

The Group has entered into derivative financial instruments to manage its exposure to oil price risk. These derivatives are zero-premium collars and zero-premium 3 ways (put spread plus call) and were placed with major financial institutions and commodity traders. The Group entered into the derivatives under ISDA Master Agreements and Credit Support Annexes, which provide credit lines for collateral posting, thus alleviating possible liquidity needs under the instruments and protecting the Group from potential non-performance risk by its counterparties.

The Group’s derivatives are designated and qualify as cash flow hedges. The effective portion of changes in the fair values of these derivative contracts are recognized under Other Reserves within Equity. The gains or losses relating to the ineffective portion, if any, are recognized immediately as gains or losses in the results of the periods in which they occur. The amount accumulated in Other Reserves is reclassified to profit or loss as a reclassification adjustment in the same period or periods during which the hedged cash flows affect profit or loss, and are included as part of the Revenue line item in the Condensed Consolidated Statement of Income (see Note 3).

​

The following table summarizes the Group’s production hedged during the six-month period ended June 30, 2026, and for the following periods as a consequence of the derivative contracts in force as of June 30, 2026:

​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	Volume	​	Average
Period	​	Reference	​	Type	​	bbl/d	​	price US$/bbl
January 1, 2026 - December 31, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	5,000	​	50.00-65.00 Put 70.93 Call
January 1, 2026 - March 31, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	7,000	​	50.00-65.00 Put 73.86 Call
January 1, 2026 - March 31, 2026	​	ICE BRENT	​	Zero Premium Collars	​	1,000	​	68.00 Put 77.40 Call
April 1, 2026 - June 30, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	12,000	​	50.83-64.58 Put 73.78 Call
April 1, 2026 - June 30, 2026	​	ICE BRENT	​	Zero Premium Collars	​	2,000	​	67.00 Put 74.06 Call
July 1, 2026 - December 31, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	2,000	​	50.00-65.00 Put 69.35 Call
July 1, 2026 - September 30, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	13,000	​	51.15-64.77 Put 71.74 Call
October 1, 2026 - December 31, 2026	​	ICE BRENT	​	Zero Premium 3 Ways	​	18,000	​	51.11-64.28 Put 71.43 Call
January 1, 2027 - March 31, 2027	​	ICE BRENT	​	Zero Premium 3 Ways	​	18,000	​	51.50-65.00 Put 71.25 Call
January 1, 2027 - March 31, 2027	​	ICE BRENT	​	Zero Premium Collars	​	3,500	​	75.00 Put 91.25 Call
April 1, 2027 - June 30, 2027	​	ICE BRENT	​	Zero Premium 3 Ways	​	21,000	​	50.57-67.86 Put 77.26 Call
July 1, 2027 - September 30, 2027	​	ICE BRENT	​	Zero Premium 3 Ways	​	17,000	​	50.00-72.29 Put 82.80 Call
October 1, 2027 - December 31, 2027	​	ICE BRENT	​	Zero Premium 3 Ways	​	15,000	​	50.00-71.93 Put 81.42 Call

​

As of June 30, 2026, the Group had a derivative liability of US$ 20,212,000 related to commodity risk management contracts (see Note 17). This balance includes US$ 6,486,000 of amounts realized in June and settled in cash in July 2026, with the remaining US$ 13,726,000 corresponding to the unrealized mark-to-market valuation of outstanding positions as of period end, primarily driven by the increase in the forward oil price curve (see Note 20).

​

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Note 5

Production and operating costs

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Staff costs	​	5,965	​	4,293	​	11,135	​	7,668
Share-based payment	​	59	​	88	​	144	​	246
Royalties in cash	​	3,544	​	1,269	​	6,234	​	2,460
Economic rights in cash	​	1,689	​	789	​	2,553	​	1,635
Well and facilities maintenance	​	4,937	​	6,180	​	10,538	​	11,468
Operation and maintenance	​	4,807	​	1,389	​	8,814	​	2,821
Consumables (a)	​	11,632	​	6,057	​	19,802	​	13,782
Equipment rental	​	2,895	​	1,945	​	5,184	​	3,788
Transportation costs	​	1,559	​	1,090	​	2,413	​	2,307
Field camp	​	1,789	​	1,183	​	2,893	​	2,429
Safety and insurance costs	​	882	​	982	​	1,795	​	1,653
Personnel transportation	​	564	​	721	​	1,353	​	1,344
Consultant fees	​	564	​	670	​	807	​	1,200
Non-operated blocks costs	​	6,645	​	4,548	​	11,085	​	10,339
Crude oil stock variation	​	4,318	​	845	​	3,146	​	2,799
Purchased crude oil	​	—	​	317	​	—	​	317
Other costs	​	1,215	​	231	​	2,819	​	1,778
​	​	53,064	​	32,597	​	90,715	​	68,034

(a) During the six-month period ended June 30, 2026, consumables include increased electricity costs incurred primarily in the Llanos 34 Block, amounting to US$ 12,044,000 (US$ 7,060,000 for the same period in 2025), mainly attributable to higher electricity tariffs in Colombia associated with reduced hydroelectric generation, increased thermal generation and higher electricity demand.

  ​

​

​

​

​

​

​

Note 6

Geological and geophysical expenses

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Staff costs	​	1,565	​	1,732	​	3,564	​	3,603
Share-based payment	​	3	​	23	​	7	​	106
Allocation to capitalized project	​	(188)	​	(223)	​	(369)	​	(558)
Other services	​	369	​	1,417	​	1,319	​	2,251
​	​	1,749	​	2,949	​	4,521	​	5,402

​

​

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Note 7

Administrative expenses

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Staff costs	​	7,145	​	6,260	​	13,776	​	12,824
Share-based payment	​	1,228	​	907	​	2,513	​	2,197
Consultant fees	​	1,561	​	1,541	​	2,989	​	2,901
Safety and insurance costs	​	634	​	779	​	1,178	​	1,554
Travel expenses	​	385	​	207	​	598	​	296
Non-operated blocks expenses	​	289	​	281	​	242	​	533
Director fees and allowance	​	121	​	120	​	239	​	220
Communication and IT costs	​	1,237	​	683	​	1,304	​	1,341
Allocation to joint operations	​	(2,629)	​	(2,328)	​	(5,042)	​	(4,887)
Other administrative expenses	​	746	​	670	​	754	​	1,197
​	​	10,717	​	9,120	​	18,551	​	18,176

​

​

Note 8

Selling expenses

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Staff costs	​	156	​	120	​	306	​	244
Share-based payment	​	—	​	2	​	—	​	4
Transportation (a)	​	3,367	​	1,128	​	10,966	​	2,178
Selling taxes and other	​	924	​	1,715	​	1,935	​	2,707
​	​	4,447	​	2,965	​	13,207	​	5,133

(a) The fluctuation in transportation costs is mainly attributed to deliveries at different sales points in the CPO-5 and Llanos 123 Blocks in Colombia, including the shift to export delivery locations under a commercial arrangement with BP Products North America Inc. from August 2025 to April 2026. Sales at the wellhead incur no selling costs but yield lower revenue, while transportation expenses for sales to alternative or export delivery points are recognized as selling expenses.

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Note 9

Financial results

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Financial expenses	​	​	​	​	​	​	​	​
Bank charges and other financial costs (a)	​	(3,968)	​	(3,904)	​	(8,287)	​	(9,284)
Borrowings cancellation costs (b)	​	—	​	—	​	—	​	(6,240)
Interest and amortization of debt issue costs	​	(13,077)	​	(13,745)	​	(25,172)	​	(25,512)
Unwinding of long-term liabilities	​	(1,370)	​	(1,398)	​	(2,469)	​	(2,847)
​	​	(18,415)	​	(19,047)	​	(35,928)	​	(43,883)
Financial income	​	​	​	​	​	​	​	​
Interest received	​	2,768	​	4,194	​	4,312	​	7,418
Borrowings cancellation gain (c)	​	—	​	4,978	​	—	​	4,978
​	​	2,768	​	9,172	​	4,312	​	12,396
Foreign exchange gains and losses	​	​	​	​	​	​	​	​
Foreign exchange (loss) gain	​	(5,337)	​	(999)	​	(5,722)	​	(5,588)
Realized result on currency risk management contracts (d)	​	691	​	779	​	848	​	779
Unrealized result on currency risk management contracts (d)	​	2,881	​	220	​	2,564	​	1,521
​	​	(1,765)	​	—	​	(2,310)	​	(3,288)
Total financial results	​	(17,412)	​	(9,875)	​	(33,926)	​	(34,775)

(a) During the six-month period ended June 30, 2026, includes withholding taxes associated with cross-border financing of US$ 3,416,000 (US$ 3,780,000 for the same period in 2025).

(b) One-off non-cash charge resulting from the accelerated amortization of deferred issuance costs associated with the Notes due 2027 following their partial repurchase in January 2025 (see Note 25 to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(c) One-off gain from the repurchase of Notes due 2030 below par value in June 2025 (see Note 25 to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(d) During the six-month period ended June 30, 2026, it relates to results from a cross-currency swap used to hedge foreign exchange exposure on a local debt with Citibank in Colombia (see Note 14).

Note 10

Income tax

The Group calculates income tax expense using the tax rate that would be applicable to the expected total annual earnings. The main components of income tax expense in the Condensed Consolidated Statement of Income are:

​	​	​	​	​	​	​	​	​
​	​	Three-month	​	Three-month	​	Six-month	​	Six-month
​	​	period ended	​	period ended	​	period ended	​	period ended
Amounts in US$ ´000	​	June 30, 2026	​	June 30, 2025	​	June 30, 2026	​	June 30, 2025
Current income tax expense		(9,808)	​	(5,414)	​	(27,267)	​	(33,398)
Deferred income tax benefit (expense)	​	408	​	(2,178)	​	(3,448)	​	13,359
​	​	(9,400)		(7,592)	​	(30,715)	​	(20,039)

The Group’s consolidated effective tax rate was 40% and -277% for the three-month periods ended June 30, 2026 and 2025, respectively, and 47% and 88% for the six-month periods ended June 30, 2026 and 2025, respectively.

As of June 30, 2026 and 2025, the statutory income tax rate in Colombia was 35%, though a tax surcharge is also applicable, impacting companies engaged in the extraction of crude oil like GeoPark. The tax surcharge varies from zero to 15%, depending on different Brent oil prices. The Group currently estimates a tax surcharge of 10% for 2026, and therefore, the applicable statutory income tax rate in Colombia for 2026 would be 45%.

15

Table of Contents

Note 10 (Continued)

Income tax (Continued)

The Group’s consolidated effective tax rate of 40% for the three-month period ended June 30, 2026, which is lower than the applicable statutory income tax rate in Colombia, is mainly driven by the effect of fluctuations of the Colombian peso on deferred income taxes (the Colombian peso revalued by 6% during the three-month period ended June 30, 2026).

Note 11

Property, plant and equipment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Furniture,

​

​

​

​

​

​

​

Exploration

​

​

​

​

​

​

equipment

​

Production

​

Buildings

​

​

​

and

​

​

​

​

Oil & gas

​

and

​

facilities and

​

and

​

Construction

​

evaluation

​

​

Amounts in US$ ´000

​

properties

​

vehicles

​

machinery

​

improvements

​

in progress

​

assets

​

Total

Cost at January 1, 2025

​

1,034,846

​

14,231

​

192,512

​

4,363

​

24,106

​

100,954

​

1,371,012

Additions

​

724

(a)​

494

​

—

​

5

​

29,903

​

16,149

​

47,275

Write-offs / Impairment

​

(18,111)

(c)​

—

​

—

​

—

​

—

​

(18,761)

(d)​

(36,872)

Transfers

​

20,894

​

—

​

12,355

​

12

​

(31,080)

​

(2,181)

​

—

Currency translation differences

​

3,023

​

38

​

253

​

7

​

20

​

13

​

3,354

Disposals

​

—

​

(538)

​

—

​

(94)

​

—

​

—

​

(632)

Divestment of long-term assets (b)

​

(97,529)

​

(193)

​

(8,148)

​

—

​

(329)

​

—

​

(106,199)

Cost at June 30, 2025

​

943,847

​

14,032

​

196,972

​

4,293

​

22,620

​

96,174

​

1,277,938

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cost at January 1, 2026

​

1,090,004

​

14,508

​

204,017

​

4,301

​

32,489

​

96,009

​

1,441,328

Additions

​

5,190

(a)​

565

​

—

​

112

​

95,891

​

1,791

​

103,549

Write-offs / Impairment

​

—

​

—

​

—

​

—

​

—

​

(3,778)

(e)​

(3,778)

Transfers

​

41,035

​

—

​

8,800

​

—

​

(50,331)

​

496

​

—

Currency translation differences

​

—

​

—

​

—

​

—

​

—

​

16

​

16

Disposals

​

—

​

(401)

​

—

​

—

​

—

​

—

​

(401)

Cost at June 30, 2026

​

1,136,229

​

14,672

​

212,817

​

4,413

​

78,049

​

94,534

​

1,540,714

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and write-down at January 1, 2025

​

(529,718)

​

(11,807)

​

(85,759)

​

(3,237)

​

—

​

—

​

(630,521)

Depreciation

​

(51,326)

​

(767)

​

(7,005)

​

(127)

​

—

​

—

​

(59,225)

Currency translation differences

​

(2,665)

​

(37)

​

(235)

​

(7)

​

—

​

—

​

(2,944)

Disposals

​

—

​

509

​

—

​

94

​

—

​

—

​

603

Divestment of long-term assets (b)

​

73,283

​

187

​

7,498

​

—

​

—

​

—

​

80,968

Depreciation and write-down at June 30, 2025

​

(510,426)

​

(11,915)

​

(85,501)

​

(3,277)

​

—

​

—

​

(611,119)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and write-down at January 1, 2026

​

(556,226)

​

(12,700)

​

(93,318)

​

(3,398)

​

—

​

—

​

(665,642)

Depreciation

​

(45,217)

​

(688)

​

(8,271)

​

(94)

​

—

​

—

​

(54,270)

Disposals

​

—

​

325

​

—

​

—

​

—

​

—

​

325

Depreciation and write-down at June 30, 2026

​

(601,443)

​

(13,063)

​

(101,589)

​

(3,492)

​

—

​

—

​

(719,587)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Carrying amount at June 30, 2025

​

433,421

​

2,117

​

111,471

​

1,016

​

22,620

​

96,174

​

666,819

Carrying amount at June 30, 2026

​

534,786

​

1,609

​

111,228

​

921

​

78,049

​

94,534

​

821,127

(a) Corresponds to the effect of the change in the estimate of asset retirement obligations.

(b) Corresponds to the divestments of non-operated working interests in the Llanos 32 Block in Colombia, the Manati gas field in Brazil and the Perico and Espejo Blocks in Ecuador (see Note 34.4, 34.2 and 34.3, respectively, to the annual consolidated financial statements as of and for the year ended December 31, 2025).

(c) Corresponds to an impairment charge related to the divestment process in Ecuador.

(d) Corresponds to one exploratory well drilled in the PUT-8 Block in Colombia of US$ 5,883,000, and an impairment charge related to the divestment process in Ecuador of US$ 12,878,000.

(e) Corresponds to one exploration well drilled in the Llanos 104 Block in Colombia.

16

Table of Contents

Note 12     

Prepayments and other receivables

​	​	​	​	​
​	​	At	​	Year ended
Amounts in US$ ´000	​	June 30, 2026	​	December 31, 2025
V.A.T.	​	5,282	​	2,264
Income tax payments in advance	​	3,904	​	13,153
Other prepaid taxes	​	1,739	​	965
To be recovered from co-venturers	​	16,801	​	14,610
Prepayments and other receivables	​	18,288	​	15,392
​	​	46,014	​	46,384
Classified as follows:	​	​	​	​
Current	​	41,662	​	42,394
Non-current	​	4,352	​	3,990
​	​	46,014	​	46,384

​

​

Note 13

Equity

Share capital

​	​	​	​	​
​	​	At	​	Year ended
Issued share capital	​	June 30, 2026	​	December 31, 2025
Common stock (US$ ´000)	​	65	​	52
The share capital is distributed as follows:	​	​	​	​
Common shares, of nominal US$ 0.001	​	64,896,377	​	51,707,198
Total common shares in issue	​	64,896,377	​	51,707,198
​	​	​	​	​
Authorized share capital	​	​	​	​
US$ per share	​	0.001	​	0.001
​	​	​	​	​
Number of common shares (US$ 0.001 each)	​	5,171,949,000	​	5,171,949,000
Amount in US$	​	5,171,949	​	5,171,949

GeoPark’s share capital only consists of common shares. The authorized share capital consists of 5,171,949,000 common shares, par value US$ 0.001 per share. All of the Company’s issued and outstanding common shares are fully paid and nonassessable.

As of June 30, 2026, the Company held 11,035,636 (11,348,762 as of December 31, 2025) common shares in treasury, which had been repurchased under the share buyback programs. Treasury shares are recorded as a deduction from equity and are not entitled to vote or receive dividends. Accordingly, the number of shares outstanding used for earnings-per-share calculations excludes treasury shares. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of treasury shares.

17

Table of Contents

Note 13 (Continued)

Equity (Continued)

Strategic equity investment by Grupo Gilinski

On March 5, 2026, GeoPark Limited entered into a share purchase agreement (the “SPA”) with Colden Investments S.A. (“Colden”), an affiliate of Jaime Gilinski, who leads Grupo Gilinski. Under the SPA, Colden invested US$ 107,000,000 to acquire 12,876,053 newly issued common shares of the Company at a price of US$ 8.31 per share. Following the closing of the transaction, Colden held approximately 20% of the Company’s outstanding common shares and became the Company’s largest shareholder.

Pursuant to the SPA, Colden is entitled to nominate two directors to the Company’s nine-member Board of Directors at that ownership level, subject to applicable corporate governance procedures and NYSE requirements. In addition, the SPA includes, among other provisions, an eighteen-month lock-up commitment, certain approval rights while maintaining a minimum 15% ownership stake, and ownership limitations requiring Board approval for increases above 32% during the first twelve months. Gabriel Gilinski was appointed to fill a vacancy on the Board.

During March 2026, Colden and Spaldy Investments Limited, both controlled by Jaime Gilinski, increased their ownership through open market purchases and, as of March 31, 2026, held approximately 25.8% of the Company’s outstanding common shares. In April 2026, their combined ownership further increased to approximately 28%. Under the SPA, upon reaching 28% or more of the Company’s outstanding common shares, Colden becomes entitled to nominate up to three directors to the Company’s nine-member Board, subject to customary corporate governance procedures, applicable law and NYSE requirements. If entitled to nominate three directors, at least one of the Colden nominees must qualify as an independent director under applicable standards. In April 2026, Colden exercised these nomination rights by nominating Gabriel Gilinski, Dorita Gilinski and Camilo Martínez (collectively, the "Colden Nominees") in accordance with the terms of the SPA and the Company's Corporate Governance Guidelines. At the Company's Annual General Meeting (“AGM”) held in July 2026, the Colden Nominees were duly elected as directors to serve until the next AGM of the Company.

​

Cash distributions

In February and May 2026, the Company’s Board of Directors declared cash dividends of US$ 0.03 and US$ 0.023 per share, which were paid on March 31, 2026 and June 4, 2026 respectively.

Other reserves

GeoPark applies hedge accounting for the derivative financial instruments entered to manage its exposure to oil price risk. Consequently, the Group’s derivatives are designated and qualify as cash flow hedges and, therefore, the effective portion of changes in the fair values of these derivative contracts and the income tax relating to those results are recognized under Other Reserves within Equity. The amount accumulated in Other Reserves is reclassified to profit or loss as a reclassification adjustment in the same period or periods during which the hedged cash flows affect profit or loss. During the six-month period ended June 30, 2026, a realized loss of US$ 51,404,000 on commodity risk management contracts was reclassified to the Condensed Consolidated Statement of Income.

18

Table of Contents

Note 14

Borrowings

The outstanding amounts are as follows:

​	​	​	​	​
​	​	At	​	Year ended
Amounts in US$ ´000	​	June 30, 2026	​	December 31, 2025
Notes due 2030	​	​	​	​
Nominal amount	​	441,679	​	441,679
Unamortized debt issuance costs	​	(3,112)	​	(3,469)
Accrued interests	​	16,095	​	16,095
​	​	454,662	​	454,305
Notes due 2027	​	​	​	​
Nominal amount	​	94,667	​	94,667
Unamortized debt issuance costs	​	(422)	​	(797)
Accrued interests	​	2,372	​	2,372
​	​	96,617	​	96,242
​	​	​	​	​
Local debt in Colombia and Argentina (a)	​	82,759	​	3,000
​	​	82,759	​	3,000
Total borrowings	​	634,038	​	553,547

Classified as follows:

​	​	​	​	​
Current	​	192,471	​	18,467
Non-Current	​	441,567	​	535,080

(a) Includes local borrowings in Colombia and Argentina as described below.

In December 2025, GeoPark Colombia S.A.S. executed a loan agreement with Bancolombia Panamá, S.A. for an amount of US$ 3,000,000 to finance sustainable capital requirements associated with the Orinoquia Regenera project in Colombia. The loan carries a variable interest rate of SOFR risk-free rate plus a margin of 1.8% per annum and matures on December 20, 2029. Principal is repayable semi-annually in equal installments following a grace period of two years, and interest is payable semi-annually on the outstanding balance.

In January 2026, GeoPark Colombia S.A.S. obtained two short-term loans from Bancolombia Panamá, S.A. totaling US$ 25,000,000 (US$ 17,000,000 and US$ 8,000,000) to fund the advance payment related to the unconsummated acquisition of Frontera Energy’s E&P assets in Colombia (see Note 19). The loans were disbursed on January 23, 2026. In February 2026, the terms of these loans were amended, and the loans were restructured to bear interest at a fixed annual rate of 5.06320% and to mature on February 3, 2027.

In February 2026, GeoPark Colombia S.A.S. obtained a short-term loan from Citibank Colombia S.A. for an aggregate principal amount of Colombian Pesos 145,280,000,000 (equivalent to US$ 40,000,000) to support liquidity and working capital requirements in Colombia following the advance payment related to the unconsummated acquisition of Frontera Energy’s E&P assets in Colombia (see Note 19). The loan was disbursed on February 6, 2026, bears interest at a floating rate of IBR (the Colombian interbank reference rate) plus 1.53% per annum, and matures on February 3, 2027. In connection with this borrowing, the Group entered into a cross-currency swap arrangement with Citibank N.A., New York to hedge the foreign exchange exposure associated with the loan and to secure the Colombian peso cash flows required to service principal and interest payments.

In June 2026, GeoPark Argentina S.A. obtained two short-term loans from Banco de Galicia y Buenos Aires S.A. totaling US$ 12,000,000 (equivalent to an aggregate amount of Argentine Pesos 17,332,500,000 at the respective disbursement dates) to finance working capital requirements. After the balance sheet date, in July 2026, GeoPark Argentina S.A. obtained two additional short-term loans from Banco de Galicia y Buenos Aires S.A. and Banco Supervielle S.A., respectively, totaling US$ 15,000,000 (equivalent to Argentine Pesos 22,222,000,000 at the respective disbursement dates), also to finance working capital requirements.

19

Table of Contents

Note 15

Provisions and other long-term liabilities

The outstanding amounts are as follows:

​	​	​	​	​
​	​	At	​	Year ended
Amounts in US$ ´000	​	June 30, 2026	​	December 31, 2025
Assets retirement obligation	​	18,802	​	13,397
Deferred income	​	618	​	611
Other	​	11,403	​	10,622
​	​	30,823	​	24,630

​

​

​

​

​

Note 16

Trade and other payables

The outstanding amounts are as follows:

​	​	​	​	​
​	​	At	​	Year ended
Amounts in US$ ´000	​	June 30, 2026	​	December 31, 2025
V.A.T.	​	13,037	​	3,683
Trade payables (a)	​	103,812	​	80,649
Customer advance payments	​	—	​	2,182
Staff costs to be paid	​	10,672	​	14,177
Royalties to be paid	​	1,537	​	1,307
Taxes and other debts to be paid	​	9,980	​	8,331
To be paid to co-venturers	​	173	​	708
​	​	139,211	​	111,037

(a) The increase was mainly due to higher outstanding payables associated with capital expenditures in Argentina, which were paid during July 2026.

Note 17

Fair value measurement of financial instruments

Fair value hierarchy

The following table presents the Group’s financial assets and financial liabilities measured and recognized at fair value as of June 30, 2026, and December 31, 2025, on a recurring basis:

​	​	​	​	​	​	​
​	​	​	​	​	​	At
Amounts in US$ ´000	​	Level 1	​	Level 2	​	June 30, 2026
Assets	​	​	​	​	​	​
Derivative financial instrument assets	​	​	​	​	​	​
Currency risk management contracts	​	—	​	2,564	​	2,564
Total Assets	​	—	​	2,564	​	2,564
Liabilities	​	​	​	​	​	​
Derivative financial instrument liabilities	​	​	​	​	​	​
Commodity risk management contracts	​	—	​	20,212	​	20,212
Total Liabilities	​	—	​	20,212	​	20,212
​	​	​	​	​	​	​
​	​	​	​	​	​	At
Amounts in US$ ´000	​	Level 1	​	Level 2	​	December 31, 2025
Assets	​	​	​	​	​	​
Derivative financial instrument assets	​	​	​	​	​	​
Commodity risk management contracts	​	—	​	25,474	​	25,474
Energy cost risk management contracts	​	​	​	24	​	24
Total Assets	​	—	​	25,498	​	25,498
Liabilities	​	​	​	​	​	​
Derivative financial instrument liabilities	​	​	​	​	​	​
Energy cost risk management contracts	​	—	​	620	​	620

20

Table of Contents

Total Liabilities ​ — ​ 620 ​ 620

Note 17 (Continued)

Fair value measurement of financial instruments (Continued)

Fair value hierarchy (Continued)

There were no transfers between Level 2 and 3 during the period. The Group did not measure any financial assets or financial liabilities at fair value on a non-recurring basis as of June 30, 2026.

Fair values of other financial instruments (unrecognized)

The Group also has a number of financial instruments which are not measured at fair value in the balance sheet. For the majority of these instruments, the fair values are not materially different to their carrying amounts, since the interest receivable/payable is either close to current market rates or the instruments are short-term in nature.

Borrowings are comprised of fixed rate debt and are measured at their amortized cost. The Group estimates that the fair value of its financial liabilities is approximately 97% of its carrying amount, including interest accrued as of June 30, 2026. Fair value was calculated based on market price for the Notes and is within Level 1 of the fair value hierarchy.

Note 18

Capital commitments

Capital commitments are detailed in Note 32.2 to the annual consolidated financial statements as of December 31, 2025. The following update has taken place during the six-month period ended June 30, 2026:

Colombia

​

● Llanos 86 Block: On June 19, 2026, the Colombian National Hydrocarbons Agency ("ANH") approved GeoPark's request to extend Phase 1 of the exploration period until December 19, 2027. As part of the extension, GeoPark committed to drill one exploratory well before December 19, 2027.

​

Note 19

Business transactions

Proposed acquisition of Frontera Energy’s Colombian E&P assets (not consummated)

On January 29, 2026, GeoPark entered into an agreement with Frontera Energy Corporation (“Frontera”) to acquire 100% of Frontera Petroleum International Holdings B.V. (“Frontera International”), which consisted exclusively of oil and gas exploration and production assets in Colombia. On February 2, 2026, GeoPark paid an initial deposit of US$ 75,000,000, with the remaining balance payable at closing, subject to regulatory approvals and customary closing conditions.

On March 5, 2026, Frontera announced that its board of directors had determined that a binding offer from Parex Resources Inc. to acquire the Frontera E&P Assets constituted a “Superior Proposal” under the arrangement agreement with GeoPark, and that the five-business-day matching period had commenced.  

Following such notification and after evaluating its match right, on March 9, 2026, GeoPark announced its decision not to raise its offer. As a result, on March 11, 2026, GeoPark received a US$ 25,000,000 break-up fee, which was recognized as a gain within the ‘Other income (expenses), net’ line item in the Condensed Consolidated Statement of Income. On March 13, 2026, the escrow deposit of US$ 75,000,000 was returned together with accrued interest of US$ 258,000.

21

Table of Contents

Note 20

Oil price volatility

During the second quarter of 2026, crude oil markets experienced high price volatility driven primarily by geopolitical developments in the Middle East and the resulting uncertainty over global oil supply and shipping routes through the Strait of Hormuz. Brent crude prices, which were approximately US$ 60 per barrel at the beginning of the year, remained at elevated levels throughout most of the quarter, averaging approximately US$ 97 per barrel, reaching a peak of approximately US$ 118 per barrel, before declining to approximately US$ 73 per barrel by the end of June 2026 following the announcement of a Memorandum of Understanding between the United States and Iran and improving expectations regarding the normalization of regional oil exports.

​

While the higher oil price environment increased the Group's revenues, the overall financial impact was partially offset by the effects of existing commodity hedging arrangements and price-linked contractual and fiscal mechanisms. Higher crude prices increased royalties, contractual price-sharing mechanisms and tax surcharges, while realized prices were partially limited by hedge ceilings. The extent to which these factors may continue to affect future results will depend on commodity prices, geopolitical developments and market conditions.

​

Subsequent to June 30, 2026, Brent crude prices remained volatile, trading between approximately US$ 71 and US$ 100 per barrel during July and averaging approximately US$ 82 per barrel by the end of month. These fluctuations continued to be driven by geopolitical developments in the Middle East, including renewed tensions between the United States and Iran and disruptions affecting shipping through the Strait of Hormuz.

​

22

Table of Contents

​

​

​

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: August 4, 2026

23