GeoPark Announces Third Quarter 2025 Operational Update

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Audio By Carbonatix

1:30 PM on Monday, October 20

The Associated Press

BOGOTA, Colombia--(BUSINESS WIRE)--Oct 20, 2025--

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, announces its operational update for the three-month period ended September 30, 2025 (“3Q2025”).

Oil and Gas Production and Operations

January-September consolidated average oil and gas production of 28,194 boepd
3Q2025 consolidated average oil and gas production of 28,136 boepd, reflecting solid delivery from core operated and non-operated assets
Production was 3% higher than 2Q2025, mainly explained by stronger performance across core assets. Ongoing waterflood and workover activities at Llanos 34 (GeoPark operated, 45% WI) delivered higher than expected production, there was improved production from the CPO-5 Block (GeoPark non-operated, 30% WI) in the absence of blockades, and output from the Manati gas field (GeoPark non-operated, 10% WI) in Brazil increased from an average of 350 to 1,000 boepd during the quarter 1
A total of 4 wells were drilled and completed in 3Q2025, bringing the total at end-September to 14 wells

Llanos 34 Block: Waterflood and Workovers Sustain Base Amid Weather Impacts

3Q2025 average production of 16,953 boepd net (37,674 boepd gross), down 4% from 2Q2025 consistent with expected decline rates. Performance was further impacted by a force majeure flooding event and reduced output from the on-site power network
Waterflooding projects contributed approximately 5,698 boepd gross (15% of gross production), exceeding plan by 14%
Workover campaign focused on 18 wells, delivering 2,250 boepd gross and reducing water production by 25,200 bwpd from November 2024 to September 2025, exceeding plan by 4%

CPO-5 Block: Production Rebound and Reduced Downtime

3Q2025 average production reached 7,075 bopd net (23,583 bopd gross), up 16% from 2Q2025, primarily driven by strong performance at the Indico field and reduced downtime
Environmental license modification for the Indico and Mariposa fields has been approved, enabling key operational initiatives including water disposal

Llanos Exploration: Drilling Success Continues

3Q2025 average production increased to 2,180 boepd net (4,360 boepd gross), driven by the Llanos 123 Block (GeoPark operated, 50% WI):
- Currucutu-1: Additional potential identified in the Mirador formation under evaluation. A workover is planned in 1H2026 to assess its productivity
- Toritos Sur-3: Drilled and completed during June 2025 with initial production tests of 1,070 bopd (1% BSW) from the Mirador formation (exploration target) and 630 bopd (<1% BSW) from the Barco formation (development target). An extended production test is in progress for the Lower Mirador to further assess its potential
- Bisbita: Successful injection test completed, and injection is in progress. Waterflood is showing early positive response

Argentina: Vaca Muerta Acquisition Closed and Will Contribute to 2025 Production from 4Q2025

Year-to-date average oil and gas production of approximately 2,060 boepd, with 3Q2025 average production of 1,660 boepd
All governmental and regulatory approvals were obtained and public deeds executed on October 16, 2025, marking the effective date for GeoPark’s operational and financial consolidation with respect to starting operations in Vaca Muerta

Upcoming Catalysts 4Q2025

Drilling 3-5 gross wells in Colombia, targeting appraisal and exploration projects
Key projects include:
- Llanos 123 Block: Drilling up to 4 appraisal wells
- Llanos 104 Block (GeoPark operated, 50% WI): Drilling 1 exploration well
Platanillo Block (GeoPark operated, 100% WI) 2: Production operations have restarted during October, with an initial operating window of 4–6 months.
Vaca Muerta: Advancing the installation of rod pumps in some wells to increase productivity, securing long lead items, required permits and synergies/options with providers and operators
Regulatory closing of the divestment of our WI in the Manati gas field is expected to occur during 4Q2025
Divestment of the Espejo and Perico Blocks in Ecuador is expected to close during 4Q2025

________________________________
1 Closing of the transaction is pending customary regulatory approvals and is expected to occur during 4Q2025.
2 GeoPark Colombia S.A.S. holds 100% ownership of Amerisur Exploración Colombia Limited, which is the official contractor and operator of the block.

Breakdown of Quarterly Production by Country

The following table shows production figures for 3Q2025, as compared to 3Q2024:

	3Q2025		3Q2024
	Total (boepd)	Oil (bopd) a	Gas (mcfpd)	Total (boepd)	% Change
Colombia	26,208	26,208	-	31,429	-17%
Ecuador	926	926	-	1,786	-48%
Brazil	1,002	15	5,920	-	-
Total	28,136	27,149	5,920	33,215	-15%

a)	Includes royalties and other economic rights paid in kind in Colombia for approximately 4,612 bopd in 3Q2025. No royalties were paid in kind in Ecuador or Brazil. Production in Ecuador is reported before the Government’s production share of approximately 241 bopd.

Quarterly Production

(boepd)	3Q2025	2Q2025	1Q2025	4Q2024	3Q2024
Colombia	26,208	25,868	27,610	29,740	31,429
Ecuador	926	1,281	1,466	1,749	1,786
Brazil	1,002	231	-	-	-
Total a	28,136	27,380	29,075	31,489	33,215
Oil	27,149	27,151	28,971	31,354	33,091
Gas	987	228	104	135	124

a)	In Colombia, production includes royalties and other economic rights paid in kind, and in production in Ecuador is reported before the Government’s production share.

Reporting Date for 3Q2025 Results Release, Conference Call and Webcast

GeoPark will report its 3Q2025 financial results on Wednesday, November 5, 2025, after market close.

GeoPark management will host a conference call on Thursday, November 6, 2025, at 10:00 am (Eastern Standard Time) to discuss the 3Q2025 financial results.

To listen to the call, participants can access the webcast located in the Invest with Us section of the Company’s website at www.geo-park.com, or by clicking below:

https://events.q4inc.com/attendee/869247101

Interested parties can join the conference call by using the following dial-in information:

United States Participants: +1 646-844-6383
Global Dial-In Numbers:
https://www.netroadshow.com/events/global-numbers?confId=72342
Passcode: 039892

Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast.

An archive of the webcast replay will be made available in the Invest with Us section of the Company’s website at www.geo-park.com after the conclusion of the live call.

NOTICE

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

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

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

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

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including, drilling campaign, production and resumption of operations, and closing of the divestment transactions. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

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

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20251020743110/en/

CONTACT: For further information, please contact:

INVESTORS:

Maria Catalina Escobar

Shareholder Value and Capital Markets Director

[email protected]

Miguel Bello

Investor Relations Officer

[email protected]

Maria Alejandra Velez

Investor Relations Leader

[email protected]