GeoPark is a Latin American oil and gas explorer, operator and consolidator with assets and growth platforms in Colombia, Argentina, Ecuador and Brazil.

The Company have grown their business through drilling, developing and producing oil and gas, winning new licenses and acquiring strategic assets and businesses. The Company continually evaluate the potential acquisition of strategic assets that will allow them to continue growing their business in line with recent operating and financial successes. Since their inception, GeoPark have supported their growth through prospect development efforts, drilling program, long-term strategic partnerships and alliances with key industry participants, accessing debt and equity capital markets, developing and retaining a technical team with vast experience and creating a successful track record of finding and producing oil and gas in Latin America.  

GeoPark have a portfolio of assets that includes working and/or economic interests in 34 hydrocarbon blocks, 33 of which are onshore blocks, including 10 in production as of December 31, 2023, and provides the ability to quickly optimize capital allocation as market conditions change. The Company's assets provide access to more than 4.7 million gross exploratory and productive acres.

Reserves and production

According to the D&M Reserves Report, as of December 31, 2023, the blocks in Colombia, Ecuador, Brazil and Chile in which GeoPark have a working interest had 66.2 mmboe of net proved reserves, with 89.9%, 3.5%, 2.3% and 4.4% of such net proved reserves located in Colombia, Ecuador, Brazil and Chile, respectively.

GeoPark produced a net average of 36.6 mboepd during the year ended December 31, 2023, of which 90.0%, 2.5%, 2.8% and 4.7%, were in Colombia, Ecuador, Brazil and Chile, respectively, and of which 92.9% was oil.

Overview of operations

Colombia

In the first quarter of 2012, GeoPark entered into Colombia by acquiring three privately held E&P companies that were later merged into GeoPark Colombia S.A.S. These acquisitions provided the Company with an attractive platform of reserves and resources in Colombia, including a 45% operated working interest in the Llanos 34 Block.

During 2019, jointly with Ecopetrol/Hocol, GeoPark acquired five low-cost, low-risk and high-potential exploration blocks in the Llanos Basin, surrounding the Llanos 34 Block, and also executed an agreement to assume a 50% non-operated working interest in the Llanos 94 Block.

In January 2020, GeoPark acquired the entire share capital of Amerisur, which owned thirteen production, development, and exploration blocks in Colombia, distributed as follows: twelve operated blocks in the Putumayo basin (including the producing Platanillo Block) and one non-operated block in the Llanos basin (the producing CPO-5 Block), and a cross-border oil pipeline from Colombia to Ecuador.

In 2023, GeoPark drilled and put into production five oil exploration wells in the Llanos 87 and Llanos 123 Blocks.

Offtake Agreement
In May 2024, GeoPark announced the execution of an offtake and prepayment agreement with Vitol, one of the world’s leading energy and commodity companies.

The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 Block (GeoPark operated, 45% WI). The agreement improves GeoPark’s price realizations by 15 cents (USD) per barrel vs the current agreement, or by 60 cents (USD) per barrel vs the average price realizations from January 2021 to date. The offtake agreement began on July 1, 2024, for a minimum of 20 months and up to 36 months.

Acquisition
In November 2024, GeoPark signed Sale and Purchase Agreements (SPAs) to acquire Repsol's upstream oil and gas assets in Colombia.

The potential acquisition would incorporate high-quality assets located in the prolific Llanos Basin, one of Colombia’s most productive oil regions where GeoPark already has a successful oil-finding track record and is a well-established operator both above and below ground. The agreements include the acquisition of 100% of Repsol Colombia O&G Limited, which owns a 45% non-operated working interest in the CPO-9 Block in Meta Department (operated by Ecopetrol with a 55% WI), and Repsol’s 25% interest in SierraCol Energy Arauca LLC (“Llanos Norte”) in Arauca Department. Together, these assets produced approximately 16,000 boepd net to Repsol as of September 2024.

Ecuador

On May 22, 2019, GeoPark signed participation contracts for the Espejo (GeoPark operated, 50% working interest) and Perico (GeoPark non-operated, 50% working interest) Blocks in Ecuador. In 2022, the Company recorded their first oil sales in Ecuador following the successful exploration campaign in the Perico Block, which continued during 2023, and also acquired 60 sq km of 3D seismic and drilled their first exploration well in the Espejo Block.

The Espejo and Perico blocks, which are in one of the most prolific petroleum systems in Latin America, are adjacent to multiple producing oil fields and existing infrastructure. Jandaya 1 on the Perico block was GeoPark's first discovered well in Ecuador.

Brazil

Since 2013, GeoPark have participated in several Bid Rounds promoted by the Brazilian ANP. In 2014, the Company acquired a 10% non-operated working interest in the BCAM-40 Concession, which included an interest in the Manati Gas Field operated by Petrobras.

Argentina

In May 2024, GeoPark signed an Asset Purchase Agreement with Phoenix Global Resources (“PGR”), a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the Neuquén Basin in Argentina as follows: a 45% WI in each of the Mata Mora Norte producing block and Mata Mora Sur exploration block, located in Neuquén Province, and a 50% WI in each of the Confluencia Norte and Confluencia Sur exploration blocks, located in Rio Negro Province.

In November 2024, GeoPark announced the successful start of production in the Confluencia Norte Block (GeoPark non-operated, 50% WI) in Rio Negro, Argentina. This marks a major de-risking achievement in GeoPark’s partnership with Phoenix Global Resources (“PGR”) in the Vaca Muerta formation.

The Confluencia Norte Block recently completed its first pad of three unconventional wells, which began production in mid-October. This development confirms the presence of the Vaca Muerta formation at the westernmost edge of the block. The pad includes a vertical pilot well, drilled specifically for data acquisition, along with three horizontal wells reaching a total measured depth of 6,300 meters, with 3,000 meters of lateral extension. A high intensity fracturing program was executed across 135 stages, resulting in a current gross production rate of 4,000 bopd during the ongoing flowback and well testing phase, with production currently being transported to and marketed through The Mata Mora Norte Block facility. 

Chile

In 2006, after demonstrating their technical expertise and committing to an exploration and development plan, GeoPark obtained a 100% operating working interest in the Fell Block from the Republic of Chile. Then, in 2011, ENAP awarded GeoPark operating working interests in each of the Isla Norte, Flamenco and Campanario Blocks. In December 2023, the Company entered into an agreement to sell their Chilean subsidiaries which comprised the entirety of GeoPark's business in the country. The divestment transaction closed in January 2024 and, as part of the transaction, GeoPark have retained certain rights over unconventional activities that would be carried out in the Fell Block over the current operating contract in the future.

Leadership

Sylvia Escovar Gómez Chair of the Board
James F. Park Deputy Chair of the Board, Chair, Strategy and Risk Committee; and Co-founder
Andrés Ocampo Chief Executive Officer
Jaime Caballero Uribe Chief Financial Officer
Augusto Zubillaga Chief Technical Officer
Martín Terrado Chief Operating Officer
Mónica Jiménez Chief Strategy, Sustainability and Legal Officer
Agustina Wisky Chief People Office

Contact

GeoPark Colombia
Street 94 N° 11 – 30
Floors 8, 9, 10, 11 & 12
Bogotá, Colombia

Tel: (+57 60 1) 743 2337

GeoPark Ecuador
Av. Portugal N34-360 
y Av. 6 de Diciembre Edificio
Zyra – Piso 12
Quito- Ecuador

Tel: (+54 11) 4312 9400

KeyFacts Energy: GeoPark Colombia country profile   l   Argentina country profile  
Brazil country profile   l   Ecuador country profile