GeoPark Ltd (GPRK) News & EventsGPRKNews & EventsGeoPark Ltd

GeoPark CEO Highlights Stable Q2 Performance

Felipe Bayon, Chief Executive Officer of GeoPark, said: "Our second quarter results demonstrate the consistency of our execution and the strength of our portfolio. While maintaining stable production and resilient cash generation, we continued to advance the largest investment program in our recent history, reaching important milestones in Argentina ahead of schedule while preserving financial discipline and a strong balance sheet. Colombia continues to provide a robust platform of production and cash flow through disciplined reservoir management and operational excellence. As we move through this peak investment period, we remain focused on executing safely and efficiently, allocating capital with discipline and creating sustainable long-term value for our shareholders."

Company to Drill 6-7 Gross Wells in Colombia in 3Q2026

Drilling 6-7 gross wells in 3Q2026 in Colombia and completing hydraulic fracturing in Argentina. Key projects include: Llanos 34 Block: Completing the first horizontal well to the Gacheta Formation and drilling 3 infill wells in the Tigana field; CPO-5 Block: Drilling one exploration well and executing a workover campaign in the Indico field; Argentina: Completing hydraulic fracturing on five Vaca Muerta wells, followed by production start-up; Llanos 123 Block: Drilling 1-2 development wells.

GeoPark's Q2 2026 Oil and Gas Production Stable at 27,271 boepd

Oil and Gas Production and Operations 2Q26 consolidated average oil and gas production of 27,271 boepd, stable versus 27,249 boepd in 1Q26; 8 rigs in operation; Operational activity accelerated in 2Q26, with 6 wells drilled and completed in the Llanos 34 and Llanos 123 blocks, and 5 wells drilled in Vaca Muerta, currently undergoing hydraulic fracturing; Health and Safety performance remained solid year to date, with zero LTI, TRI and Tier 1. Llanos 34 Block: Secondary Recovery Supports Sustained Production Levels: 2Q26 average production of 15,697 boepd net, versus 15,734 boepd in 1Q26; Waterflooding projects continued to deliver strong results in 2Q26, contributing 7,178 boepd gross, or 20.6% of total production in the block; Polymer flooding project progressed according to plan, currently injecting in four patterns, with new patterns expected during 2H26; Continued drilling efficiency improvements: Last two vertical wells reached one mile of measured depth in less than 24 hours. CPO-5 Block: Continued Indico Field Performance: 2Q26 average production of 6,132 boepd net, 0.4% higher than 1Q2026, supported by Indico field performance; Perico-2 development well was drilled during 2Q26, encountering 24 feet of net pay and confirming the expected oil-water contact. Argentina: Accelerating Execution & On Track to Triple Production by end-2026: 2Q26 average production of 1,400 boepd gross, flat versus 1,430 boepd in 1Q26; Loma Jarillosa Este Block: During 2Q26, GeoPark completed drilling on Pad 1030, including three new horizontal wells; Average drilling time was 14.2 days per horizontal section, with an average lateral length of 2,450 meters; Hydraulic fracturing campaign advanced in the five wells of Pad 1030, with 119 of 218 stages completed by the end of June. Two vertical wells were also drilled for water disposal and observation purposes. The Loma Jarillosa Este Environmental Impact Assessment was approved during June, enabling all material future drilling in the block. Entered into a three-year agreement with Helmerich & Payne to deploy a dedicated drilling rig, along with associated drilling services to develop the Loma Jarillosa Este and Puesto Silva Oeste blocks. First spud expected in late 4Q26. Entered into agreements with Pan American Energy S.L., Sucursal Argentina for crude oil processing and export services, securing evacuation capacity for certain volumes from GeoPark's Loma Jarillosa Este and Puesto Silva Oeste blocks. The agreements continue in force through December 31, 2027, with an option to extend for up to two additional three-month periods by mutual agreement. The agreement to export crude oil provides access to the Puerto Rosales and Punta Colorada export terminals. GeoPark and Gas y Petroleo del Neuquen applied to Argentina's Large Investment Incentive Regime program to accelerate the development of GeoPark's Vaca Muerta unconventional oil hub, supporting over $1B in investment and targeting production growth from 1,500 to 20,000 boepd within the next three years Llanos 123 Block: Development Drilling Supports Continued Growth: 2Q26 average production of 3,171 boepd net, 1.7% higher than 1Q2026 and 57.9% higher than 2Q25; Currucutu-3 development well encountered 62 feet of net pay in the Barco Formation and is currently producing 910 bopd with a 19.7% water cut; Currucutu-1 workover completed in Lower Mirador interval and currently producing 455 bopd with a 1% water cut. Putumayo: Stable Production and Reactivation of the OBA Pipeline: 2Q26 average production of 873 boepd in the Platanillo Block versus 859 boepd in 1Q2026, supported by operational optimizations and the current price environment; Transportation through the OBA pipeline was reactivated in mid-June 2026, after deliveries through this route had not been used since early 2026 due to regulatory measures in Ecuador; GeoPark continues producing in the field while preserving flexibility for future capital allocation decisions.