GeoPark (GPRK) Investor Day 2025 summary

Strategic direction and growth plans

• Entering a new phase focused on discipline, sustainable growth, and operational efficiency, with a twofold strategy: protecting the Colombian base and expanding in Argentina, especially Vaca Muerta.

• Production decline rates have been reduced from 23% to 14% through enhanced recovery techniques and technology, aiming to keep production flat at 42,000–46,000 barrels per day over the next five years.

• Vaca Muerta acquisition is transformational, targeting an increase from 2,000 to 20,000 barrels per day in three years, with licenses secured through 2057 and 2060.

• Portfolio streamlined by divesting non-core assets in Ecuador and Brazil, focusing capital and management on Colombia and Argentina.

• Growth vision includes potentially doubling EBITDA to $520–$550 million by decade’s end, with a firm plan supported by robust break-even economics.

Operational excellence and efficiency

• Industry-leading safety performance achieved through AI-driven monitoring and continuous improvement, with zero process safety incidents in the past year.

• Drilling and completion costs reduced by 30% via new-generation rigs and automation, enabling more wells with less capital.

• Lifting costs in Colombia are the lowest among peers, supported by energy efficiency, water management, and innovative maintenance practices.

• Sustainability initiatives have cut emissions by 40% since 2021, with ongoing investments in water recycling and renewable energy.

• Operational teams in both Colombia and Argentina have deep unconventional experience, ensuring readiness for Vaca Muerta development.

Asset development and production outlook

• Colombian Llanos Basin assets are core, with infill drilling, water flooding, and polymer EOR to maximize recovery and keep production stable for at least three years.

• Llanos 34 and CPO-5 fields are expected to maintain stable production and cash flow, supported by advanced modeling and operational improvements.

• Exploration success in Llanos 123 and ongoing near-field exploration could double production from that block.

• Vaca Muerta development plans include drilling 50–55 wells, leveraging existing infrastructure and aiming for $6–$7/bbl OpEx, down from $25+.

• Break-evens are $45/bbl in Colombia and $55/bbl in Argentina, with 99% of planned production below $60/bbl.