{"id":51330,"date":"2026-08-05T01:33:00","date_gmt":"2026-08-04T23:33:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=74ebc9e45abcda5d1b25b6068ebffcf2"},"modified":"2026-08-05T01:33:00","modified_gmt":"2026-08-04T23:33:00","slug":"geopark-reports-second-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=51330","title":{"rendered":"GeoPark Reports Second Quarter 2026 Results"},"content":{"rendered":"

\nCONSISTENT OPERATIONAL EXECUTION ACROSS THE PORTFOLIO<\/b><\/p>

\nACCELERATING IN VACA MUERTA WHILE PRESERVING FINANCIAL STRENGTH<\/b><\/p>

BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (\u201cGeoPark\u201d or the \u201cCompany\u201d) (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 June 30, 2026 (\u201cSecond Quarter\u201d or \u201c2Q2026\u201d). A conference call to discuss these results will be held on August 5, 2026, at 10:00 am (Eastern Daylight Time).<\/p><\/a><\/a>

\nGeoPark continued to execute its strategy during the second quarter of 2026, delivering stable production, higher revenues and resilient cash generation while accelerating development activities in Vaca Muerta, the Company\u2019s largest organic growth program.<\/p>

\nSECOND QUARTER 2026 FINANCIAL SUMMARY<\/b><\/p>

\nBrent prices materially strengthened during the quarter, averaging $96.9\/bbl, driven by the continuation of geopolitical disruptions. This higher benchmark environment and narrower Vasconia differentials supported an improvement in GeoPark\u2019s realized pricing, with the Company delivering a combined realized price of $67.2\/bbl in 2Q20261<\/sup>, compared to $60.4\/bbl in 1Q2026.<\/p>

\nProduction from Colombia and Argentina averaged 27,271 boepd, broadly in line with 1Q2026, while sales volumes2<\/sup> remained stable. As a result, total revenue increased by 12% compared to 1Q2026 to $143.3 million in 2Q2026.<\/p>

\nIn 2Q2026, GeoPark reported Adjusted EBITDA3<\/sup> of $73.1 million (51% margin), up 3% from 1Q2026. Solid revenue performance largely offset higher operating costs, which increased to $17.9 per produced barrel in 2Q2026 from $14.7 per produced barrel in 1Q2026, primarily reflecting higher energy costs, increased levels of activity carried out during the quarter, and the appreciation of the Colombian and Argentine currencies4<\/sup>.<\/p>

\nOperating profit stood at $40.8 million in 2Q2026, compared to $58.0 million in 1Q2026, a quarter that included the non-recurring net break-up fee receivable related to the Frontera Energy transaction that amounted to $14.4 million. Net income for the quarter totaled $14.0 million.<\/p>

\nCapital expenditures totaled $76.4 million in 2Q2026, primarily focused on production and development activities across the portfolio, including drilling, completion, workover and strategic infrastructure investments. In Colombia (36% of total capital expenditures), execution was centered on development and infrastructure optimization in the Llanos blocks and continued drilling and infrastructure projects in the CPO-5 Block. In Argentina (64% of total capital expenditures), execution focused on the advancement of drilling, completion and evacuation infrastructure in Vaca Muerta. The Company delivered ROACE of 19%, underscoring disciplined, returns-focused capital allocation.<\/p>

\nGeoPark continued to generate solid operating cash flow during the quarter of $108.4 million, supported by operational strength that enabled the Company to fund its investment program and increase its cash position. Cash and cash equivalents stood at $316.3 million as of the end of 2Q2026, compared to $274.9 in 1Q2026.<\/p>

\nNet debt stood at $317.8 million at the end of 2Q2026, with a net leverage ratio of 1.2x. In June 2026, GeoPark renewed and extended its senior unsecured contingent credit facility, which is available through December 2028, with final maturity in March 2029, with no drawn amounts to date.<\/p>

\nThe 2026 hedging program remains unchanged with oil price protection for 2026 secured through three-way collars covering approximately 19,000 bopd of full-year production, with a first floor of $64.8\/bbl, a second floor of $50\/bbl, and average price ceilings of $72\/bbl. For 2027, approximately 19,000 bopd of expected production has been hedged on a full-year basis, with improved protection levels securing an average first floor of $69.7\/bbl, a second floor of $50\/bbl, and average price ceilings of $78.6\/bbl.<\/p>

\nThe Board declared a quarterly cash dividend of $0.023 per share (approximately $1.5 million), payable on September 2, 2026, to shareholders of record at the close of business on August 19, 2026.<\/p>

\nGeoPark\u2019s 2026 Annual General Meeting (\u201cAGM\u201d) was held on July 14, 2026. Shareholder participation was broad, with quorum reaching 61.57% of shares entitled to vote. All resolutions submitted for consideration were approved, each with more than 99% of votes cast in favor, reflecting strong shareholder support.<\/p>\n\n\n\n\n\n
____________________<\/td>\n<\/tr>\n
1<\/sup><\/td>\n

\nAfter hedge (commodity risk management contracts) and earn-out to ex-owners of certain blocks.<\/p><\/td><\/tr>\n

2<\/sup><\/td>\n

\nSales volumes expressed in barrel of oil equivalent per day.<\/p><\/td><\/tr>\n

3<\/sup><\/td>\n

\nFor reconciliations, see \u201cReconciliation of Adjusted EBITDA to Profit Before Income Tax\u201d table below.<\/p><\/td><\/tr>\n

4<\/sup><\/td>\n

\nApproximately 85% of the Company\u2019s operating cost base is denominated in local currencies.<\/p><\/td><\/tr>\n<\/table>

\nBoard of Directors and Committees Update<\/b><\/p>

\nAs part of its ongoing efforts to strengthen corporate governance, improve oversight effectiveness and streamline decision-making, the Board of Directors approved a revised committee structure, reducing the number of standing committees from six to four.<\/p>

\nThe new structure comprises the Audit Committee, chaired by Robert Bedingfield; the Nomination & Compensation Committee, chaired by Gabriel Gilinski; the Corporate Affairs Committee, chaired by James F. Park; and the Technical Committee, chaired by Brian Maxted.<\/p>

\nThe revised framework consolidates overlapping responsibilities and clarifies the allocation of key governance, risk, sustainability, compensation and technical oversight matters across the Board and its committees.<\/p>

\nAdditionally, the Board appointed Mr. James F. Park as the Chair of the Board, and Felipe Bayon, the Company\u2019s Chief Executive Officer, as Vice Chair.<\/p>

\nCEO Comment<\/b><\/p>

\nFelipe Bayon, Chief Executive Officer of GeoPark, said: \u201cOur 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\u201d.<\/p>

\nSupplementary information is available at the following link:<\/p>

\nhttps:\/\/ir.geo-park.com\/2Q26-SupplementaryRelease<\/a><\/p>

\nSECOND QUARTER 2026 HIGHLIGHTS<\/b><\/p>

\nOil and Gas Production and Operations<\/b><\/p>