Financial Data and Key Metrics Changes - Adjusted EBITDA reached $71.4 million with a 57% margin, broadly stable compared to the previous quarter, supported by higher volumes and steady realized prices [7] - Net income was $15.9 million compared to a net loss in the previous quarter; excluding a non-recurrent exploration write-off, net profit would have been $23.4 million [7] - Average consolidated production was 28,136 barrels of oil equivalent per day, exceeding 2025 guidance and up nearly 3% quarter over quarter [6] Business Line Data and Key Metrics Changes - In Colombia, Llanos 34 remained a key engine with continued efficiency gains across drilling and workover operations [6] - In Llanos 123, drilling operations advanced at Toritos Norte 3, and progress was made on infrastructure in Puerto Gaitán [6] - Operating costs averaged $12.5 per barrel, fully in line with 2025 guidance, with over $15 million in efficiencies captured [7] Market Data and Key Metrics Changes - The company ended the quarter with $197 million in cash and repurchased $108 million of its 2030 notes below par, generating $9.5 million in annual cash savings [8] - Approximately 62% of expected 2026 production is protected through a hedging program with three-way collars [8] Company Strategy and Development Direction - The company successfully closed the acquisition of two high-quality blocks in Vaca Muerta, Neuquén, marking a strategic entry into a promising unconventional basin [4] - The new strategic plan focuses on sustaining a resilient and high-margin base in Colombia while rapidly scaling operations in Argentina [4] - The Board approved a revised dividend program totaling approximately $6 million over the next four quarters, reflecting a commitment to strong shareholder returns [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving consolidated production targets of 42,000-46,000 barrels of oil equivalent per day by 2030, with an adjusted EBITDA of $520 million-$550 million [5] - The company is preparing to scale up operations in the newly acquired blocks in Vaca Muerta, with productivity enhancements already underway [9] - Management emphasized the importance of maintaining financial discipline and maximizing shareholder value [9] Other Important Information - The company is undergoing a certification process for reserves, aiming for over 100% reserves replacement for the year [40] - The cash disbursement for the Vaca Muerta acquisition was finalized at $115 million [42] Q&A Session Summary Question: Can you provide more color on the upcoming studies and permits for the 2026 Vaca Muerta work program? - Management confirmed that operations have already begun, with production currently around 1,100 barrels of oil equivalent per day, and plans to increase to 20,000 barrels per day by the end of next year [15][17] Question: Could you comment on the lower CapEx for this quarter and provide an update on production in the Llanos Basin? - CapEx for the third quarter was around $17.5 million, reflecting a reduction due to operating with one rig; production was 28,136 barrels of oil equivalent per day, with expectations to ramp up in the fourth quarter [26][28] Question: What are the risks related to your polymer injection project in Llanos 34? - Management stated that polymer injection is a proven technology with a solid track record, and risks are managed through phased implementation and experienced personnel [64] Question: How much do you expect the Vaca Muerta acquisition will add to your 4Q 2025 production? - The acquisition is expected to contribute approximately 1,400-1,600 barrels of oil per day for the quarter [76]

Seamless Takeover of the Vaca Muerta Operation Nov 5, 2025 4:33 PM Eastern Standard Time GeoPark Reports Third Quarter 2025 Results Share Strong Operational and Financial Delivery in Line With 2025 Guidance Quarterly Cash Dividend of $0.03 Per Share Establishes Special Committee of Independent Directors to Evaluate Any Revised Offer From Parex and Other Value-maximizing Alternatives for the Company BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited ("GeoPark†or the "Company†) (NYSE: GPRK), a leading indep ...

Core Viewpoint - GeoPark Limited has rejected an unsolicited acquisition proposal from Parex Resources Inc. for $9.00 per share, indicating the Board's confidence in the company's value and future prospects [1]. Company Summary - GeoPark Limited is a leading independent energy company with over 20 years of successful operations in Latin America [1]. - The proposal from Parex Resources was received on September 4, 2025, prior to GeoPark's announcement of its transactions [1]. Board Decision - The Board of Directors of GeoPark reviewed the acquisition proposal and unanimously decided to reject it [1].

Core Viewpoint - Parex Resources Inc. has proposed to acquire GeoPark for US$9.00 per share in cash, representing a significant premium to GeoPark's current share price, but the GeoPark Board has rejected the proposal without constructive engagement [1][3][5]. Proposal Details - The proposed acquisition price of US$9.00 per share represents a 44% premium to GeoPark's share price at the time of the proposal [5][11]. - Parex has acquired an 11.8% ownership stake in GeoPark, allowing it to call a special shareholder meeting [2][3]. - The total value of GeoPark, including net debt, is approximately US$940 million, which exceeds the value of GeoPark's Colombian proved plus probable reserves based on its 2024 year-end reserves disclosure [5][6]. Strategic Context - Parex argues that its all-cash proposal offers immediate and compelling value to GeoPark shareholders, allowing them to avoid risks associated with GeoPark's recent investment in Argentina [1][3]. - The GeoPark Board's rejection of the proposal is seen as part of a pattern of failing to engage constructively with Parex [3][6]. Timeline of Events - December 2021: Parex submitted a previous proposal to acquire GeoPark, which was rejected [6]. - September 4, 2025: Parex submitted the current proposal for US$9.00 per share [6]. - October 15, 2025: GeoPark's CEO informed Parex that the proposal was rejected [6]. - October 29, 2025: Parex acquired an 11.8% stake in GeoPark [1][6]. Financial Position - Parex is in a strong financial position and plans to fund the acquisition through existing cash and other financing sources [13][14]. - The transaction is not subject to approval by Parex shareholders, and the definitive agreement will not include a financing condition [14][15]. Engagement and Advisory - Parex remains willing to engage with GeoPark to finalize the transaction and has retained Scotiabank as its financial advisor along with several legal counsels [8].

Core Viewpoint - Parex Resources Inc. has proposed to acquire GeoPark for US$9.00 per share in cash, representing a significant premium to GeoPark's current share price, but the GeoPark Board has rejected the proposal without constructive engagement [1][3][5]. Summary by Sections Proposal Details - The proposed acquisition price of US$9.00 per share represents a 44% premium to GeoPark's share price at the time of the proposal [5][12]. - Parex has acquired an 11.8% ownership stake in GeoPark, allowing it to call a special shareholder meeting [2][3]. - The total value of GeoPark, including net debt, is approximately US$940 million, which exceeds the value of GeoPark's Colombian proved plus probable reserves based on 2024 disclosures [5][6]. Company Statements - The CEO of Parex stated that the rejection of the proposal denies GeoPark shareholders the opportunity to receive cash at a significant premium and criticized GeoPark's decision to pursue a capital-intensive investment in Argentina [3][8]. - Parex remains willing to engage with GeoPark to finalize the transaction and hopes the GeoPark Board will reconsider its position [2][8]. Historical Context - Parex previously submitted a proposal in December 2021, which was rejected by GeoPark, and has since attempted to engage with GeoPark multiple times regarding its recent proposal [6][8]. - Key dates include the initial proposal submission on September 4, 2025, and the acquisition of the 11.8% stake on October 29, 2025, after GeoPark's Board rejected the proposal [6][8]. Financial and Legal Advisory - Parex has retained Scotiabank as its financial advisor and several law firms for legal counsel, indicating a serious commitment to the proposed acquisition [8].

Core Insights - GeoPark is entering a new phase focused on discipline and sustainable growth, leveraging its strong foundation in Colombia and expanding its operations in Argentina, particularly in Vaca Muerta [2] Group 1: Company Strategy - The leadership team will discuss how the company is protecting its foundation, strengthening its balance sheet, and continuing to grow responsibly [3] - The strategy involves simplifying, strengthening, and scaling the business to deliver value across different market cycles [3] Group 2: Leadership and Governance - The event features members of the management team and the Board of Directors, including independent director Robert Bedingfield and key executives such as CEO Felipe Bayon and CFO Jaime Caballero [4]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Summary of GeoPark's Investor Day Conference Company Overview - **Company**: GeoPark - **Focus**: Oil and gas exploration and production, primarily in Colombia and Argentina, with a significant emphasis on the Vaca Muerta formation in Argentina [1][2][3] Key Industry Insights - **Vaca Muerta**: A critical area for growth, producing over 500,000 barrels per day from unconventional sources since 2019, with less than 10% of the area developed [31][32] - **Colombian Operations**: The Los Llanos Basin is responsible for over 60% of Colombia's oil production, with significant opportunities for improving recovery factors [48][49] Strategic Priorities - **Twofold Strategy**: 1. Protect existing assets and operations 2. Return to growth through exploration and development, particularly in Vaca Muerta [9][31] - **Production Goals**: Aim to maintain production levels and reduce expected decline rates from 23% to 14% through enhanced oil recovery (EOR) techniques [14][17] Financial Performance - **EBITDA Projections**: - 2025 EBITDA expected to be $300 million, with potential to reach $520 million to $550 million by the end of the decade [27][36] - Historical EBITDA growth from $400 million to $3.9 billion projected by 2025 [13][14] - **Cost Management**: Aiming for a breakeven price below $60 per barrel, with over 80% of production hedged [30][44] Operational Excellence - **Safety and Efficiency**: - GeoPark boasts world-class safety indicators, preventing over 800 unsafe conditions year-to-date [19] - Focus on operational efficiency, including the use of nanotechnology and modular water treatment plants [20][21] - **Production Techniques**: - Implementation of water flooding and polymer EOR to enhance recovery rates [56][67] Exploration and Development - **Colombian Assets**: - Focus on maximizing recovery factors in existing fields, with plans for infill drilling and water flooding expansion [54][55] - Successful exploratory results in the Janos 123 field, with plans to double production [70][72] - **Vaca Muerta Development**: - Strategic acquisition of two blocks in Vaca Muerta, with plans to increase production from 2,000 barrels per day to 20,000 barrels per day within three years [34][35] Market Position and Future Outlook - **Competitive Advantage**: GeoPark's operations in Colombia and Argentina are strategically located in high-potential areas with established infrastructure [32][49] - **Growth Potential**: The company is well-positioned to capitalize on growth opportunities in both organic and inorganic avenues, with a focus on disciplined execution and capital allocation [39][44] Additional Considerations - **Geopolitical Risks**: The company acknowledges potential uncertainties related to geopolitical factors and market volatility but emphasizes readiness to adapt [44][22] - **Sustainability Framework**: GeoPark's operational decisions are guided by a framework that includes safety, prosperity, employee welfare, environmental stewardship, and community development [24] This summary encapsulates the key points discussed during GeoPark's Investor Day, highlighting the company's strategic direction, operational focus, and financial outlook in the context of the oil and gas industry.

Core Insights - GeoPark Limited, a leading independent energy company, has presented its long-term strategic plan and updated capital allocation framework ahead of its 2025 Investor Day [1] Group 1: Strategic Plan - The company has over 20 years of successful operations across Latin America [1] - Presentations were made by GeoPark's Chief Executive Officer, Felipe Bayon, and key members of the team [1] Group 2: Operational Priorities - The event was hosted at the New York Stock Exchange and virtually, indicating a focus on investor engagement [1]

Core Insights - GeoPark Limited reported its operational update for the third quarter of 2025, highlighting a consolidated average oil and gas production of 28,136 barrels of oil equivalent per day (boepd) for the quarter [1] Production and Operations - The consolidated average oil and gas production for the period from January to September 2025 was 28,194 boepd, indicating stable operational performance [1] - The production figures reflect solid delivery and operational efficiency during the reported period [1]