GeoPark Completes Strategic Venezuela Entry Transaction
Business Wire•02/11/2026•06:30 ET
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Key Highlights
- ➤42,135,872 new shares issued to Grupo Gilinski for GeoPark’s remaining 95% CPP Holdco interest
- ➤Grupo Gilinski now controls approximately 56.3% of GeoPark’s outstanding common shares
- ➤25-year Venezuela Bare Block CPP effective after completing milestones ahead of 120-day deadline
- ➤GeoPark will operate the block, fund 100% of capital expenditures, and hold 65% net participating interest
- ➤Grupo Gilinski must launch a tender offer at US$12.22 per share, up to US$100 million
Expert Statements
Felipe Bayon, Chief Executive Officer of GeoPark
“Completing this transaction well before the agreed contractual timeline is a significant achievement and reflects the strength of our team’s execution capabilities and the close collaboration developed with PPSA.”
Felipe Bayon, Chief Executive Officer of GeoPark
“Our focus now fully shifts to operational execution, starting with a safe and disciplined takeover.”
Felipe Bayon, Chief Executive Officer of GeoPark
“With reactivation wells already assessed and critical readiness activities well advanced, we have the foundation to stabilize production, reactivate existing capacity and progressively unlock the Bare Block’s substantial potential.”
Felipe Bayon, Chief Executive Officer of GeoPark
“This timely milestone reinforces GeoPark’s commitment to Venezuela and our confidence in the country’s energy sector.”
25-Year Bare Block CPP Now Effective Following Early Completion of Milestones
42.1 Million New GeoPark Shares to Be Issued to Grupo Gilinski, Becoming the Company’s Controlling Shareholder
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