- GeoPark Limited (GPRK, Financial) announces a strong operational performance in Q1 2025, exceeding its production guidance.
- Significant progress in exploration and production in the Llanos Basin and Vaca Muerta, Argentina.
- GeoPark maintains robust financial health with a cash position of $308 million.
GeoPark Limited (GPRK), a leading independent energy company in Latin America, has reported a strong operational performance for the first quarter of 2025, surpassing its production guidance. The company recorded a pro-forma consolidated average oil and gas production of 36,279 boepd during the period, outperforming its guidance of 35,000 boepd. Excluding operations in Vaca Muerta, the production stood at 29,076 boepd.
The company achieved a new milestone with the discovery at the Currucutu-1 well in the Llanos 123 block, producing 1,360 bopd gross. Additionally, production from Vaca Muerta reached a record 17,358 boepd gross in February 2025, showcasing the potential of its unconventional hydrocarbon blocks in Argentina.
GeoPark's robust hedge position, covering approximately 70% of expected 2025 pro forma production with price floors between $68–70/bbl, provides significant protection against downside price risks. Furthermore, the company's strong liquidity position, with a cash reserve of $308 million as of March 31, 2025, offers flexibility to navigate market volatility.
Portfolio optimization continues to be a focus for GeoPark, as demonstrated by the divestiture of the non-core Llanos 32 Block in Colombia and the Manati gas field in Brazil. This move aligns the company's portfolio with high-impact, high-materiality assets, anticipated to enhance its cost efficiency.
The company's strategic capital allocation and focus on portfolio resilience have enabled it to maintain a profitable and sustainable business model, even amid a challenging lower Brent price environment. GeoPark's ongoing secondary recovery efforts in the Llanos 34 Block and the successful workover campaign in the CPO-5 Block indicate a promising trajectory for its future operations.
