GeoPark Reports Third Quarter 2026 Results
Key Highlights
- ➤Adjusted EBITDA fell 37% to $45.8 million on weaker realized prices
- ➤Production rose 3% to 27,973 boepd, driven by Argentina’s 51% increase
- ➤$550 million 9.500% senior notes due 2033 support Vaca Muerta investment
- ➤Venezuela’s Bare Block CPP became effective after contractual and regulatory milestones
- ➤Corralera Noreste adds 24,200 net acres and 200 mmboe unrisked resource potential
Expert Statements
Felipe Bayon, Chief Executive Officer of GeoPark
“Our third-quarter results reflect the ongoing portfolio transition from harvesting cash from mature assets to disciplined investment in transformational long-term growth. While key strategic milestones were achieved through the signing of the Bare agreement in Venezuela and the acquisition of new acreage in Argentina, wider crude oil differentials and higher operating costs are challenging current margins, reinforcing our focus on efficiency, proactive balance sheet management, and disciplined capital allocation. With the recent refinancing of our debt underpinning our development plans, our priority is to excel in execution, converting investment into production and cash flow growth while preserving financial strength.”
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, reports its consolidated financial results for the three-month period ended September 30, 2026 (“Third Quarter” or “3Q2026”). A conference call to discuss these results will be held on November 4, 2026, at 8:00 am (Eastern Standard Time).
During 3Q2026, GeoPark delivered stable production from its Colombian assets and accelerated production growth in Vaca Muerta, Argentina. The Company also announced its strategic entry into Venezuela through the Bare Block, a large-scale heavy oil redevelopment opportunity in the Orinoco Oil Belt. Financial performance was primarily impacted by wider crude oil differentials and higher operating costs. Following quarter-end, GeoPark strengthened its growth platform through the award of the Corralera Noreste Block in Argentina and secured long-term funding through a $550 million senior notes issuance to enhance its financial profile and support its Vaca Muerta investment program. Full-year 2026 results are expected to remain within market guidance, supported by increasing production volumes in Argentina and Colombia and optimizing fourth-quarter hedge positions to mitigate the impact of weaker crude oil differentials.
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