GeoPark (NYSE: GPRK) loses Frontera deal as Parex holds 9.4% stake

Rhea-AI Filing Summary

Parex Resources Inc., an Alberta corporation, has updated its Schedule 13D amendment regarding its stake in GeoPark Ltd. Parex reports beneficial ownership of 6,085,086 common shares, representing 9.4% of GeoPark’s outstanding common shares, with sole voting and dispositive power over this position.

The percentage is based on 64,625,278 common shares outstanding as of March 5, 2026. The filing also explains that Frontera Energy Corporation terminated its definitive arrangement agreement with GeoPark and instead signed a definitive arrangement agreement with Parex for the acquisition of Frontera Petroleum.

Positive

• None.

Negative

• GeoPark’s planned acquisition of Frontera Petroleum has been terminated, as Frontera ended its definitive arrangement agreement with GeoPark on March 10, 2026 and signed a new definitive arrangement agreement with Parex Resources instead, removing a previously identified strategic growth transaction for GeoPark.

Insights

Equity ownership and M&A analyst

GeoPark loses the Frontera deal while Parex discloses a 9.4% stake.

The filing shows Parex Resources holding 6,085,086 GeoPark common shares, or 9.4% of shares outstanding, with sole voting and dispositive power. This is a meaningful minority position that can influence governance but does not constitute control.

The amendment also notes that on March 10, 2026 Frontera terminated its definitive arrangement agreement with GeoPark and entered into a definitive arrangement agreement with Parex for the acquisition of Frontera Petroleum. This represents a strategic setback for GeoPark’s previously announced acquisition plans.

Future company disclosures about GeoPark’s capital allocation and alternative growth plans following the lost Frontera transaction will help clarify how this shift in strategy affects its long-term profile.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

GeoPark Ltd

(Name of Issuer)

Common shares, par value US$0.001 per share

(Title of Class of Securities)

Cameron Grainger
585 8th Av. SW, 2700 Eighth Avenue Place, West Tower
Calgary, A0, T2P 1G1
(403) 237-1708

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/10/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

Parex Resources Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ALBERTA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 6,085,086.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 6,085,086.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

6,085,086.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common shares, par value US$0.001 per share
(b)	Name of Issuer: GeoPark Ltd
(c)	Address of Issuer's Principal Executive Offices: Calle 94 No 11-30, 8 Piso, Bogota, COLOMBIA , 00000.
Item 1 Comment: This Amendment No. 3 to Schedule 13D ("Amendment No. 3") relates to the Schedule 13D filed on October 29, 2025 (as amended by Amendment No. 1 dated December 11, 2025 and Amendment No. 2 dated February 23, 2026, the "Schedule 13D") by Parex Resources Inc., an Alberta corporation (the "Reporting Person"), relating to the Common Shares, par value US$0.001 per share (the "Common Shares"), of GeoPark Limited, an exempted company incorporated under the laws of Bermuda (the "Company"), whose principal executive offices are located at Calle 94 No 11-30, 8 Piso, Bogota, Colombia, 00000. Except as specifically amended by this Amendment No. 3, the Schedule 13D is unchanged.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information: On March 5, 2026, Frontera Energy Corporation ("Frontera"), which wholly owns Frontera Petroleum International Holdings B.V. ("Frontera Petroleum"), determined that the Reporting Person's binding offer to acquire Frontera Petroleum was superior to the terms of the Company's definitive arrangement agreement. On March 9, 2026, the Company publicly announced that it had determined not to increase the consideration it had originally offered to acquire Frontera Petroleum. As a result, on March 10, 2026, Frontera terminated its definitive arrangement agreement with the Company and entered into a definitive arrangement agreement with the Reporting Person with respect to the acquisition of Frontera Petroleum.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate number and percentage of the Common Shares that are beneficially owned by the Reporting Person and as to which the Reporting Person has sole voting power, shared voting power, sole dispositive power and shared dispositive power are set forth on the cover page of this Statement, and such information is incorporated herein by reference. The percentage used herein is calculated based on an aggregate of 64,625,278 Common Shares outstanding as of March 5, 2026, based on the information contained in the Company's press release included in the Company's Form 6-K dated March 5, 2026.
(b)	The information in Item 5(a) of this Statement is incorporated herein by reference.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Parex Resources Inc.

Signature:	/s/ Cameron Grainger
Name/Title:	Cameron Grainger
Date:	03/12/2026

FAQ

What percentage of GeoPark (GPRK) does Parex Resources currently report owning?

Parex Resources reports owning 9.4% of GeoPark’s common shares. This reflects beneficial ownership of 6,085,086 common shares, based on 64,625,278 GeoPark common shares outstanding as of March 5, 2026, as disclosed in a company press release.

How many GeoPark (GPRK) shares does Parex Resources beneficially own?

Parex Resources beneficially owns 6,085,086 GeoPark common shares. The filing states Parex has sole voting and sole dispositive power over this entire block, representing a significant minority position in GeoPark relative to its total outstanding common shares.

What change in the Frontera Petroleum deal is disclosed for GeoPark (GPRK)?

The filing states that on March 10, 2026, Frontera terminated its definitive arrangement agreement with GeoPark. Frontera then entered into a new definitive arrangement agreement with Parex Resources regarding the acquisition of Frontera Petroleum instead of proceeding with GeoPark.

On what share count is Parex’s 9.4% GeoPark (GPRK) ownership based?

Parex’s 9.4% ownership is calculated using 64,625,278 GeoPark common shares outstanding. This baseline number comes from GeoPark’s press release included in its Form 6-K dated March 5, 2026, as referenced in the Schedule 13D amendment.

Does Parex Resources have control over its GeoPark (GPRK) shares?

Yes. Parex Resources reports sole voting power and sole dispositive power over all 6,085,086 GeoPark common shares it beneficially owns. The filing shows no shared voting or shared dispositive power with any other party for this position.

What is the purpose of this Schedule 13D amendment relating to GeoPark (GPRK)?

The amendment updates Parex’s ownership position in GeoPark and revises the purpose of transaction disclosure. It explains that Frontera deemed Parex’s binding offer for Frontera Petroleum superior and switched from a definitive arrangement agreement with GeoPark to one with Parex.