GeoPark Limited filings document a foreign private issuer focused on oil and gas exploration and production in Latin America, with current operating emphasis on Colombia and Argentina. Form 20-F materials cover audited financial statements, operating results, reserves and risk factors, while Form 6-K reports provide interim financial statements, quarterly results releases and operational updates for blocks such as Llanos 34, CPO-5, Llanos 123 and Vaca Muerta assets.
The filing record also documents capital structure and governance matters, including debt and liquidity disclosures, share issuance through a strategic equity investment, rights agreement amendments, material agreements, board-election activity and shareholder matters.
GeoPark Limited (GPRK) reported a major upgrade to its oil and gas reserves for 2025, based on an independent assessment by DeGolyer and MacNaughton under PRMS methodology. Total 2P (proved plus probable) reserves rose 38% year-over-year to 121 mmboe, driving a 2P reserve replacement ratio of 430%, meaning the company added more than four times the volume it produced. The 2P reserve life index increased 80% to 12.7 years, indicating a longer production runway at current output levels.
Growth was led by the acquisition of unconventional oil blocks Loma Jarillosa Este and Puesto Silva Oeste in Argentina’s Vaca Muerta, which contributed 36.7 mmboe of 2P reserves and now account for about 30% of total 2025 reserves. GeoPark also kept its Colombian base steady with technical revisions and new discoveries in the CPO-5, Llanos 123, and Llanos 34 blocks. On efficiency, 2025 2P finding, development, and acquisition cost was reported at $4.3 per boe, supporting management’s message of disciplined capital allocation and a more diversified, resilient portfolio.
GeoPark Limited reported third-quarter 2025 results with revenue of $125.1 million, Adjusted EBITDA of $71.4 million (57% margin), and net income of $15.9 million. Average net production was 28,136 boepd, supported by stable realized prices of $57.1/boe and operating costs of $12.5/boe. Capital expenditures were $17.5 million, focused on maintaining and improving production in Colombia.
The Company closed its Vaca Muerta acquisition and assumed operations, beginning near‑term workovers. It also launched a quarterly cash dividend of $0.03 per share. Cash stood at $197.0 million and net debt at $373.4 million, after repurchasing $33.0 million of 2030 Notes in the quarter; cumulative repurchases since June totaled $108.3 million, lowering annual coupons by $9.5 million.
Risk management remains active, with 2026 oil price protection via three‑way collars covering approximately 62% of full‑year production (first floor $65/bbl, second floor $50/bbl, average ceilings $73/bbl). The Board formed a Special Committee of independent directors to evaluate any potential revised offer from Parex Resources and other value‑maximizing alternatives.
GeoPark Limited (GPRK) filed interim results showing lower activity but continued profitability. For the three months ended September 30, 2025, revenue was $125.1 million with profit of $15.9 million and basic EPS of $0.31 (diluted $0.30). For the nine-month period, revenue was $382.2 million, Adjusted EBITDA $230.9 million, and profit $18.6 million, reflecting softer oil pricing and volumes, higher financial expenses, and an earlier impairment tied to Ecuador asset sales.
GeoPark ended the quarter with cash of $197.0 million and total borrowings of $570.4 million. In January, it issued $550.0 million notes due 2030 at 8.75% and used proceeds to repurchase 2027 notes and repay up to $152.0 million under a prepayment facility. From June–September, it repurchased $77.4 million face of the 2030 notes at ~$0.89, recognizing $8.0 million of financial income, and continued repurchases in October.
Strategically, the company agreed to acquire assets in Argentina’s Vaca Muerta for $115.0 million (closed October 16, 2025) and moved to divest interests in Ecuador (impairment $31.0 million recognized) and certain non-core assets in Colombia and Brazil. It paid three $0.147/share quarterly dividends in 2025 and later approved a revised program totaling about $6.0 million over the next four quarters, followed by a planned suspension starting with Q3 2026 results. The Board rejected a $9.00 per share cash proposal from Parex Resources Inc.
Fourth Sail Capital and affiliates filed an amended Schedule 13G reporting passive beneficial ownership in GeoPark Ltd (GPRK) ordinary shares. The group reported 2,577,812 shares, representing 4.99% of the class, with the Date of Event listed as 10/13/2025.
Fourth Sail Capital LP shows shared voting power of 2,577,812 shares and sole dispositive power over 2,577,812 shares. Within the group, Fourth Sail Long Short LLC reports shared voting power over 2,020,877 shares, and Fourth Sail Discovery LLC reports shared voting power over 556,935 shares. The filing is certified as not for the purpose of changing or influencing control, consistent with a passive investor stance.
GeoPark Limited announced its Board unanimously rejected an unsolicited, non-binding all-cash proposal from Parex Resources to acquire GeoPark for $9.00 per share. The Board, after consulting independent financial and legal advisors, determined the offer significantly undervalues the company and is not in the best interests of shareholders.
GeoPark cited its strategy presented on October 21, 2025, which targets an approximately 46% increase in production and approximately 70% growth in adjusted EBITDA by full-year 2028 versus full-year 2025 estimates. The recent Vaca Muerta acquisition adds approximately 60 million barrels of recoverable resources, extends the 2P reserve life index to around ten years, and positions the company to add about 20,000 boepd within the next three years. Advisors include Goldman Sachs & Co. LLC (financial) and Davis Polk & Wardwell LLP and Conyers (legal).
Parex Resources filed a Schedule 13D on GeoPark (GPRK), disclosing beneficial ownership of 6,084,986 common shares, or 11.8% of the class. Parex reported an aggregate purchase price of US$40,473,512 for these shares, acquired using working capital.
Parex announced it has submitted a non-binding proposal to acquire all outstanding GeoPark shares for US$9.00 per share in cash. If completed, the transaction would result in a change of control, board and management changes, and could lead to delisting from the NYSE and deregistration under the Exchange Act. The ownership percentage is based on 51,567,663 shares outstanding as of June 30, 2025. Parex stated it may increase or decrease its position, use hedging strategies, or requisition a special meeting, depending on discussions with GeoPark’s board and market conditions.
GeoPark (GPRK) outlined a long-term plan and refreshed capital allocation, and reported a 3Q2025 operational update. Management highlighted a growth platform in Argentina’s Vaca Muerta and reaffirmed a disciplined roadmap focused on earnings, balance sheet strength, and future cash flow surplus once the investment phase peaks later in the decade. Guidance at $68/bbl Brent calls for 2025E production of ~30,000 boepd, capex of $90–120 million, and Adjusted EBITDA of ~$300 million, with 2026–2028E averaging 32,000–36,000 boepd and 2029–2030E averaging 42,000–46,000 boepd at $70/bbl, alongside Adjusted EBITDA of $520–550 million and net leverage of 0.8–1.0x.
The Board approved a revised dividend program following the Vaca Muerta acquisition. Between June and October, GeoPark repurchased $100 million of Senior Notes due 2030 below par ($108 million face), reducing gross financial debt by 17% to approximately $540 million and lowering interest by $10 million annually ($40 million cumulative). In 3Q2025, total production was 28,136 boepd versus 33,215 boepd in 3Q2024, with Colombia at 26,208 boepd, Ecuador at 926 boepd, and Brazil at 1,002 boepd. The Vaca Muerta acquisition has closed and will contribute from 4Q2025.
GeoPark Limited completed its previously announced acquisition from Pluspetrol of a 100% operated working interest in the Loma Jarillosa Este and Puesto Silva Oeste blocks in the black oil window of Vaca Muerta, Neuquén, Argentina. With provincial decrees DECTO-2025-1226 and DECTO-2025-1270 issued, all required approvals have been obtained, public deeds executed, and operatorship initiated.
At closing, GeoPark paid total consideration of $115 million, comprising a $22.7 million security deposit and a $92.3 million balance, subject to customary price adjustments. As set out in the Actas Acuerdo, GeoPark transferred a 5% working interest in the Puesto Silva Oeste block to Gas y Petróleo del Neuquén (GyP), which joins as a strategic partner. Management emphasized disciplined investment and a long-term commitment to Argentina as operations begin on these two high-quality blocks.
GeoPark announced the acquisition and operatorship of two Vaca Muerta blocks totaling over 12,300 gross acres in the black oil window, adding current production of 1,700–2,000 boepd (95% oil). The company reports access to estimated recoverable resources of over 60 million gross barrels, net 1P reserves of 11.4 mmboe and 2P net reserves of 25.8 mmboe, which increases GeoPark's proforma consolidated production to about 30,000 boepd in 2025 and yields a reserve life index of ~7 years (1P) and over 10 years (2P).
Management expects a clear path to a gross plateau of ~20,000 boepd by year-end 2028 driven by 50–55 additional wells and new hub infrastructure, requiring $500–600 million gross investment through 2028. Incremental pro forma adjusted EBITDA is estimated at $12–14 million for full-year 2025, rising to $300–350 million gross at expected plateau (assumes $70/bbl Brent). GeoPark will pay $115 million at closing funded with cash, plus a $22.7 million security deposit, and will operate with a 95% WI (carrying GyP's 5% share during the carry period).
GeoPark Ltd Schedule 13D Amendment discloses that Pampa Energy Inc. and Generation Argentina Inc. each report beneficial ownership of 2,285,195 shares of GeoPark common stock, representing 4.43% of the class based on 51,567,663 shares outstanding per the issuer's August 5, 2025 6-K. The filing states the shares are directly owned by GASA, a wholly-owned subsidiary of Pampa Energia, and that the Reporting Persons have sole voting and dispositive power over those shares.
The amendment also reports recent open-market dispositions by GASA in mid-September 2025: sales on September 15 of 60,911 shares at $6.31560, September 16 of 1,044,332 shares at $6.47561, September 17 of 1,009,500 shares at $6.53300, and September 18 of 810,208 shares at $6.32188, with aggregate proceeds shown per trade. Other items state no material changes where indicated and no additional contracts or exhibits are reported.