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 reported 2025 results shaped by lower oil prices but steady operations and a major portfolio shift. Brent averaged $68.2/bbl versus $79.8 in 2024, while average production was 28,233 boepd compared with 33,937 boepd. Full-year revenue reached $492.5 million and Adjusted EBITDA was $277.1 million versus $416.9 million in 2024, with net profit of $49.7 million.
The company cut its structural cost base, delivering about $32 million in 2025 cash cost savings and targeting roughly $45 million annualized savings into 2026. Capital expenditures were $98.4 million, yielding 18% ROACE, and net debt ended at $453.2 million, or 1.6x last-twelve‑month Adjusted EBITDA, with no principal debt maturities until January 2027.
Strategically, GeoPark closed the acquisition of two Vaca Muerta blocks adding 11.1 mmboe of 1P and 36.7 mmboe of 2P reserves, and agreed to acquire Frontera Energy’s Colombian upstream assets, expected to contribute about 40,000 boepd in 2026 and add 99 mmboe of 1P and 147 mmboe of 2P reserves, subject to approvals and a competing proposal. On a pro forma basis, management targets production above 90,000 boepd and EBITDA of roughly $950 million by 2028. The Board declared a quarterly dividend of $0.03 per share.
GeoPark Ltd ownership update: a group of affiliated entities led by Fourth Sail Capital reports beneficial ownership of 16,162,925 ordinary shares, representing 6.27% of the class. The filing lists shared voting and dispositive power across the group.
Issuer headquarters are shown as Calle 94 No. 11-30, Bogotá, Colombia. The filing provides per-entity shared holdings, including Fourth Sail Capital LP 3,232,585 and Fourth Sail Long Short LLC 2,827,054.
GeoPark Limited responded to Parex Resources’ move to nominate six director candidates for election to GeoPark’s Board at the 2026 annual meeting, stressing that shareholders are not required to take any action now. GeoPark recapped that Parex made and then reaffirmed a $9.00 per share acquisition offer in 2025, which GeoPark’s Board determined significantly undervalued the company.
The company highlighted its recent strategic deals, including a transformative acquisition in Vaca Muerta and the announced purchase of Frontera Energy’s Colombian E&P assets. GeoPark stated that, upon closing the Frontera transaction, it will be the largest independent oil producer in Colombia and that these acquisitions have materially increased its production outlook and cash flow durability.
GeoPark also noted that its share price has risen 33% since Parex’s initial $9.00 offer and 15% since Parex ceased negotiations on December 9, 2025, and reaffirmed its commitment to strong governance, disciplined capital allocation and long-term value creation while reviewing all nominations through established processes.
Parex Resources Inc. amended its ownership filing on GeoPark Ltd, confirming beneficial ownership of 6,085,086 common shares, or 11.8% of GeoPark’s 51,663,988 shares outstanding as of September 30, 2025. Parex reports having spent US$40,474,321 from working capital to acquire these shares and recently bought an additional 100 shares in the open market at US$8.09 per share.
Parex has nominated six independent director candidates for election at GeoPark’s 2026 annual meeting and plans to solicit proxies against an equal number of current board members, which could shift board control if its slate is elected. Separately, Parex submitted an all-cash US$500 million plus assumed debt acquisition proposal, with an additional contingent US$25 million, to purchase Frontera Petroleum’s Colombian oil and gas assets, on terms substantially similar to GeoPark’s previously announced agreement. Parex states this proposal is not related to its GeoPark share accumulation or nominations, but acknowledges it would prevent GeoPark from acquiring those assets and could change GeoPark’s anticipated business.
GeoPark Limited is acquiring 100% of Frontera Petroleum International Holdings B.V., which holds Frontera Energy’s Colombian oil and gas assets, for a cash purchase price of US$375 million plus an additional US$25 million contingent on development milestones.
The deal is expected to roughly double GeoPark’s production and reserves, creating a larger independent exploration and production platform across Colombia and Argentina and supporting growth in its Vaca Muerta assets. GeoPark will assume US$310 million in unsecured notes and US$79 million under a prepayment facility, implying an enterprise value of about US$600 million for the acquired assets.
The acquisition, effective January 1, 2026 subject to approvals, will be funded with cash on hand and committed financing, including a prepayment facility with Vitol of up to US$500 million (of which US$330 million is committed). No equity issuance is planned, and both companies’ boards have unanimously approved the Agreement.
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.
GeoPark reported that 2025 production exceeded the upper end of its guidance, helped by solid performance in its core assets in Colombia and Argentina and the first contributions from newly acquired Vaca Muerta assets.
For 4Q2025, total production reached 28,351 boepd, down from 31,489 boepd in 4Q2024, a 10% decrease, mainly reflecting lower volumes in Colombia and Ecuador, partly offset by contributions from Argentina and Brazil. Oil output was 27,431 bopd and gas 921 mcfpd in 4Q2025. The company successfully started a polymer injection project in the Llanos 34 Block to enhance secondary recovery and completed the operational transition of its Argentine assets with early production uplift. GeoPark also noted that CPO-5 production was affected by blockades and announced that director Somit Varma resigned for personal reasons effective January 19, 2026. Full 4Q2025 and 2025 financial results will be released on February 25, 2026, followed by a conference call on February 26, 2026.
Parex Resources Inc. filed an amended Schedule 13D regarding its stake in GeoPark Limited. Parex reports beneficial ownership of 6,084,986 common shares, representing 11.8% of GeoPark’s common shares, based on 51,663,988 shares outstanding as of September 30, 2025. Parex has sole voting and dispositive power over all of these shares.
The amendment explains that on December 9, 2025, Parex issued a press release stating it has determined to halt discussions with GeoPark. This change updates the previously disclosed purpose of its investment while preserving all other terms of the earlier filing.
GeoPark Limited reports on its recent engagement with Parex Resources after Parex decided to halt discussions about a potential acquisition. GeoPark’s board had previously and unanimously rejected Parex’s unsolicited, non-binding all-cash proposal of $9.00 per share, concluding it undervalued the company, especially in light of a recent “transformative” transaction in the Vaca Muerta formation that expanded its asset base and growth prospects. A special committee of independent directors was formed, a non-disclosure agreement was executed, and Parex was given access to a virtual data room with extensive technical and financial information to support a possible improved offer. GeoPark states it expects Adjusted EBITDA to more than double by 2028, supported by higher cash flow, lower leverage, and a more diversified portfolio across Colombia and Argentina. The company reiterates confidence in its strategy and indicates it remains open to offers that appropriately value the business.
GeoPark Limited outlined its 2026 work program and medium-term guidance through 2028, aiming to grow production and cash flow from its core assets in Colombia and its expanding position in Argentina’s Vaca Muerta shale. The plan targets production rising from 26,000-28,000 boepd in 2025 to 44,000-46,000 boepd in 2028 and Adjusted EBITDA increasing from $260-290 million in 2025E to $490-520 million in 2028, supported by higher capital spending.
For 2026, GeoPark plans $190-220 million in capital expenditures to support 27,000-30,000 boepd, drilling 27-36 gross wells with a strong focus on development. The company expects net debt to EBITDA of 1.9-2.1x at year-end 2026, trending to 1.2-1.4x by 2028, while targeting lifting costs near $12/bbl and G&A around $3/bbl by 2028. About 56% of estimated 2026 production was hedged as of late November 2025, and a revised dividend program will distribute about $6 million, or $0.03 per share per quarter over four quarters.