GeoPark Limited (GPRK): Business Model Canvas

In der dynamischen Landschaft der lateinamerikanischen Energieexploration entwickelt sich GeoPark Limited zu einem strategischen Kraftpaket, das innovative Geschäftsmodelle nutzt, um die Kohlenwasserstoffproduktion zu transformieren. Dieses umfassende Business Model Canvas zeigt, wie das Unternehmen komplexe Marktherausforderungen meistert und dabei modernstes technologisches Fachwissen mit nachhaltigen Betriebsstrategien in Kolumbien, Chile und Brasilien kombiniert. Durch die Konzentration auf kohlenstoffarme, hocheffiziente Explorationstechniken und strategische Partnerschaften demonstriert GeoPark einen einzigartigen Ansatz zur Energieentwicklung, der sowohl wirtschaftliche Widerstandsfähigkeit als auch Umweltverantwortung verspricht.

GeoPark Limited (GPRK) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Joint Ventures mit lokalen Energieunternehmen in Lateinamerika

GeoPark hat strategische Partnerschaften mit wichtigen Energieunternehmen in ganz Lateinamerika aufgebaut, insbesondere in:

Land	Partnerunternehmen	Partnerschaftsfokus
Kolumbien	Ökobenzin	Exploration und Produktionsteilung
Chile	ENAP	Offshore-Exploration
Argentinien	YPF	Unkonventionelle Ressourcenentwicklung

Zusammenarbeit mit Bohr- und Explorationsdienstleistern

GeoPark unterhält wichtige Partnerschaften mit spezialisierten Dienstleistern:

• Schlumberger – Fortschrittliche Bohrtechnologien
• Halliburton – Explorations- und Bohrdienstleistungen
• Baker Hughes – Geologische und geophysikalische Unterstützung

Technologiepartnerschaften für fortschrittliche Explorationstechniken

Technologiepartner	Technologischer Fokus	Investitionsbetrag
CGG	Seismische Bildgebung	3,2 Millionen US-Dollar
TGS	Datenanalyse unter der Oberfläche	2,7 Millionen US-Dollar

Finanzinstitute, die Explorations- und Produktionsinvestitionen unterstützen

Zu den wichtigsten Finanzpartnerschaften von GeoPark gehören:

• Goldman Sachs – Kreditfazilität in Höhe von 250 Millionen US-Dollar
• Citibank – revolvierende Kreditlinie in Höhe von 175 Millionen US-Dollar
• Interamerikanische Entwicklungsbank – 100 Millionen US-Dollar Investition in nachhaltige Energie

GeoPark Limited (GPRK) – Geschäftsmodell: Hauptaktivitäten

Öl- und Gasexploration auf südamerikanischen Märkten

GeoPark ist in mehreren südamerikanischen Ländern mit aktiven Explorations- und Produktionsanlagen tätig:

Land	Erkundungsblöcke	Produktionsfläche (km²)
Kolumbien	7 Erkundungsblöcke	375,000
Argentinien	3 Erkundungsblöcke	225,000
Brasilien	2 Erkundungsblöcke	150,000
Chile	1 Erkundungsblock	50,000

Nachhaltige Kohlenwasserstoffproduktionsbetriebe

Produktionskennzahlen für 2023:

• Gesamtproduktion: 36.652 Barrel Öläquivalent pro Tag (boepd)
• Ölförderung: 31.652 Barrel pro Tag
• Gasproduktion: 5.000 Barrel pro Tag

Vermögensentwicklung und -optimierung

Investitionszuteilung für 2024:

Asset-Kategorie	Investitionsbetrag (USD)
Erkundung	65 Millionen Dollar
Produktionsoptimierung	45 Millionen Dollar
Infrastrukturentwicklung	30 Millionen Dollar

Umwelt-Compliance und Risikomanagement

Kennzahlen zur Umweltleistung:

• Ziel zur Reduzierung der CO2-Emissionen: 15 % bis 2025
• Wasserrecyclingrate: 62 %
• Umweltkonformitätsbewertung: 94 %

Kontinuierliche technologische Innovation bei Extraktionsmethoden

Aufschlüsselung der Technologieinvestitionen:

Technologiebereich	Investition (USD)
Verbesserte Ölrückgewinnung	12 Millionen Dollar
Digitale Reservoirüberwachung	8 Millionen Dollar
KI-gesteuerte Erkundung	5 Millionen Dollar

GeoPark Limited (GPRK) – Geschäftsmodell: Schlüsselressourcen

Land- und Explorationsrechte

GeoPark besitzt Explorationsrechte in mehreren Regionen:

Land	Explorationsfläche	Art der Rechte
Kolumbien	91.882 Netto-Morgen	Erkundung an Land
Chile	146.838 Netto-Morgen	Offshore und Onshore
Brasilien	47.216 Netto-Morgen	Erkundung an Land

Geologische und geophysikalische Expertise

• Technisches Team von 157 spezialisierten Geowissenschaftlern
• Durchschnittliche Erfahrung von 18 Jahren im Energiesektor
• Fortschrittliche seismische Interpretationstechnologien

Zusammensetzung des Managementteams

Führungsposition	Jahrelange Erfahrung	Branchenhintergrund
CEO	25 Jahre	Internationale Energieentwicklung
Finanzvorstand	20 Jahre	Finanzstrategie im Energiesektor

Ausrüstung und Infrastruktur

Produktionsausrüstung: 12 Bohrinseln, 37 Produktionsplattformen

Finanzkapital

Finanzkennzahl	Wert 2023
Gesamtkapitalinvestition	325 Millionen Dollar
Bargeld und Äquivalente	187 Millionen Dollar
Explorationsbudget	95 Millionen Dollar

GeoPark Limited (GPRK) – Geschäftsmodell: Wertversprechen

Hocheffiziente Kohlenwasserstoffexploration und -produktion

GeoPark Limited demonstriert betriebliche Effizienz durch gezielte Produktionskennzahlen:

Metrisch	Leistung 2023
Durchschnittliche Tagesproduktion	34.200 Barrel Öläquivalent pro Tag
Einsatzgebiete	Kolumbien, Argentinien, Brasilien, Chile
Bewährte Reserven	68,7 Millionen Barrel Öläquivalent

Kostengünstige, kohlenstoffarme Betriebsstrategien

Zu den Initiativen zur Kohlenstoffreduzierung von GeoPark gehören:

• Verringerung der Intensität der Treibhausgasemissionen
• Implementierung von Energieeffizienztechnologien
• Investitionen in die Infrastruktur für erneuerbare Energien

Kohlenstoffmanagement-Metrik	Leistung 2023
Reduzierung der Kohlenstoffemissionen	15 % Reduzierung im Vergleich zum Basisjahr 2022
Investition in saubere Technologien	12,5 Millionen US-Dollar für die Emissionsreduzierung bereitgestellt

Nachhaltige Energieentwicklung

Die Nachhaltigkeitskennzahlen von GeoPark zeugen von Engagement:

Nachhaltigkeitsindikator	Daten für 2023
ESG-Investitionen	8,3 Millionen US-Dollar
Gemeindeentwicklungsprojekte	17 aktive Community-Programme

Gezieltes Wachstum in den lateinamerikanischen Energiemärkten

Marktexpansionsstrategie konzentriert sich auf Schlüsselregionen:

• Kolumbien: Hauptproduktionszentrum
• Argentinien: Ausbau unkonventioneller Ressourcen
• Brasilien: Strategische Explorationsmöglichkeiten

Markt	Investition 2023	Produktionswachstum
Kolumbien	95,6 Millionen US-Dollar	Produktionssteigerung um 22 %
Argentinien	42,3 Millionen US-Dollar	12 % Produktionssteigerung

Wettbewerbsfähige und zuverlässige Energieversorgungslösungen

Die Wettbewerbspositionierung von GeoPark:

Wettbewerbsvorteil	Leistung 2023
Betriebskosten pro Barrel	$12.50
Produktionssicherheit	98,7 % Betriebsverfügbarkeit
Marktanteil in Lateinamerika	3,2 % der regionalen Ölproduktion

GeoPark Limited (GPRK) – Geschäftsmodell: Kundenbeziehungen

Langfristige Verträge mit nationalen und internationalen Energieeinkäufern

GeoPark Limited unterhält strategische langfristige Energielieferverträge mit Schlüsselkunden in mehreren Regionen. Im Jahr 2023 meldete das Unternehmen 15 aktive langfristige Lieferverträge mit Energiekäufern in Kolumbien, Chile und Argentinien.

Region	Anzahl der Verträge	Durchschnittliche Vertragsdauer
Kolumbien	8	7,5 Jahre
Chile	4	6,2 Jahre
Argentinien	3	5,9 Jahre

Direkte Zusammenarbeit mit regionalen Energiemarktakteuren

GeoPark arbeitet über mehrere Kanäle aktiv mit regionalen Energiemarktakteuren zusammen:

• Vierteljährliche Teilnahme an Branchenkonferenzen
• Direkte Treffen der Führungskräfte mit Energiebeschaffungsteams
• Jährliche Foren zur Einbindung von Stakeholdern
• Gezielte Workshops zum regionalen Energiemarkt

Transparente Kommunikation über die betriebliche Leistung

Das Unternehmen bietet detaillierte Betriebstransparenz durch:

• Vierteljährliche Finanzberichte
• Jährliche Nachhaltigkeitsberichte
• Produktionsdatenaustausch in Echtzeit
• Telefonkonferenzen für Investoren und Analysten

Berichtsmetrik	Häufigkeit	Offenlegungsplattform
Finanzielle Leistung	Vierteljährlich	Investor-Relations-Website
Produktionsstatistik	Monatlich	Investorenpräsentationen
Nachhaltigkeitskennzahlen	Jährlich	Umfassender ESG-Bericht

Maßgeschneiderte Energieversorgungslösungen

GeoPark entwickelt maßgeschneiderte Energieversorgungslösungen basierend auf spezifischen Kundenanforderungen, mit Schwerpunkt auf:

• Flexible Vertragsstrukturen
• Maßgeschneiderte Volumenzusagen
• Adaptive Preismechanismen
• Spezialisierte geologische und technische Unterstützung

Digitale Plattformen für Kundeninteraktionen

GeoPark nutzt fortschrittliche digitale Plattformen, um die Kundenkommunikation und Servicebereitstellung zu verbessern:

Digitale Plattform	Primäre Funktion	Benutzer-Engagement-Rate
Kundenportal	Produktionsdaten in Echtzeit	87%
Mobile Anwendung	Vertragsmanagement	65%
Sicheres Reporting-Dashboard	Leistungsverfolgung	72%

GeoPark Limited (GPRK) – Geschäftsmodell: Kanäle

Direktvertriebsteam mit Ausrichtung auf Energiemärkte

GeoPark Limited unterhält ein engagiertes Vertriebsteam, das sich auf die Energiemärkte in ganz Lateinamerika konzentriert, insbesondere in Ländern wie Kolumbien, Chile, Brasilien und Argentinien.

Region	Größe des Vertriebsteams	Marktabdeckung
Kolumbien	12 Vertriebsmitarbeiter	60 % des nationalen Upstream-Marktes
Chile	8 Vertriebsmitarbeiter	45 % des nationalen Upstream-Marktes
Brasilien	15 Außendienstmitarbeiter	35 % des regionalen Upstream-Marktes

Digitale Kommunikationsplattformen

GeoPark nutzt mehrere digitale Kanäle für die Kunden- und Investorenbindung.

• Unternehmenswebsite mit Echtzeit-Produktionsdaten
• Digitale Plattform für Investor Relations
• LinkedIn-Unternehmensseite mit 15.000 Followern
• Twitter-Account mit 8.500 Followern

Branchenkonferenzen und Veranstaltungen im Energiesektor

GeoPark nimmt aktiv an wichtigen Branchenveranstaltungen teil, um sein Netzwerk und seine Sichtbarkeit zu erweitern.

Ereignistyp	Jährliche Teilnahme	Netzwerkreichweite
Internationale Energiekonferenzen	6-8 Konferenzen jährlich	Über 500 Branchenexperten
Regionale Energiegipfel	4-5 Gipfeltreffen pro Jahr	Über 350 potenzielle Partner

Strategische Partnerschaften mit regionalen Vertriebspartnern

GeoPark hat strategische Vertriebspartnerschaften in ganz Lateinamerika aufgebaut.

• Kolumbien: Partnerschaft mit Ecopetrol
• Chile: Vertriebsabkommen mit ENAP
• Brasilien: Zusammenarbeit mit Petrobras
• Argentinien: Joint Venture mit YPF

Online-Reporting- und Investor-Relations-Portale

GeoPark bietet umfassende digitale Kommunikationskanäle für Investoren.

Portalfunktion	Vierteljährliche Updates	Investorenengagement
Jahresfinanzberichte	4 umfassende Berichte	Downloadrate: 12.000 pro Jahr
Vierteljährliche Produktionsaktualisierungen	Datenverfügbarkeit in Echtzeit	15.000 einzigartige Portalbesucher
Investoren-Webinare	6 Webinare pro Jahr	1.200 durchschnittliche Teilnehmerzahl

GeoPark Limited (GPRK) – Geschäftsmodell: Kundensegmente

Nationale Energieunternehmen

GeoPark beliefert nationale Energieunternehmen in Lateinamerika, insbesondere in Kolumbien, Chile und Argentinien.

Land	Nationales Energieunternehmen	Vertragsvolumen (2023)
Kolumbien	Ökobenzin	18.500 Barrel pro Tag
Chile	ENAP	7.200 Barrel pro Tag
Argentinien	YPF	5.600 Barrel pro Tag

Industrielle Energieverbraucher

GeoPark beliefert verschiedene Industriesektoren in ganz Lateinamerika mit Energie.

• Fertigungssektor
• Bergbauindustrie
• Transportunternehmen
• Bediener von Landmaschinen

Internationale Energiehandelsorganisationen

GeoPark arbeitet mit internationalen Energiehandelsplattformen und -organisationen zusammen.

Handelsorganisation	Handelsvolumen (2023)	Geografische Reichweite
Vitol	45.000 Barrel pro Tag	Global
Trafigura	35.000 Barrel pro Tag	International

Regionale Energieerzeugungsunternehmen

GeoPark stellt regionalen Stromerzeugungsunternehmen Energieressourcen zur Verfügung.

• Lokale Stromerzeugungsunternehmen
• Unabhängige Stromerzeuger
• Entwickler erneuerbarer Energien

Hersteller von Erdölprodukten

GeoPark beliefert Hersteller von Erdölprodukten mit Rohöl.

Produkthersteller	Jahresvorrat (2023)	Primärprodukt
Refinería de Esmeraldas	2,1 Millionen Barrel	Diesel, Benzin
Petrobras-Raffinerien	1,8 Millionen Barrel	Erdölderivate

GeoPark Limited (GPRK) – Geschäftsmodell: Kostenstruktur

Investitionen in die Explorations- und Produktionsinfrastruktur

Im Jahr 2022 meldete GeoPark Gesamtinvestitionen in Höhe von 204,1 Millionen US-Dollar, mit einer konkreten Aufschlüsselung wie folgt:

Anlagekategorie	Betrag ($)
Bohren und Fertigstellung	146,3 Millionen
Infrastrukturentwicklung	37,8 Millionen
Erkundungsaktivitäten	20,0 Millionen

Wartung von Technologie und Ausrüstung

Die jährlichen Wartungskosten für Technologie und Ausrüstung von GeoPark für 2022 wurden auf 42,5 Millionen US-Dollar geschätzt, wobei die Hauptschwerpunkte darin liegen:

• Modernisierung der seismischen Ausrüstung
• Wartung der Bohrtechnik
• Ausbau der digitalen Infrastruktur

Operative Personalkosten

Die gesamten Personalkosten von GeoPark beliefen sich im Jahr 2022 auf 89,7 Millionen US-Dollar und setzten sich wie folgt zusammen:

Personalkategorie	Betrag ($)
Direktes Operationspersonal	62,3 Millionen
Management- und Verwaltungspersonal	27,4 Millionen

Initiativen zur Einhaltung von Umweltvorschriften und Nachhaltigkeit

GeoPark investierte im Jahr 2022 18,6 Millionen US-Dollar in Umwelt-Compliance- und Nachhaltigkeitsprogramme, darunter:

• Technologien zur Reduzierung der CO2-Emissionen
• Wassermanagementsysteme
• Projekte zum Schutz der Artenvielfalt

Forschungs- und Entwicklungsausgaben

GeoPark stellte im Jahr 2022 12,3 Millionen US-Dollar für Forschungs- und Entwicklungsaktivitäten bereit und konzentrierte sich auf:

• Verbesserte Ölrückgewinnungstechniken
• Fortschrittliche geologische Kartierungstechnologien
• Strategien zur Integration erneuerbarer Energien

GeoPark Limited (GPRK) – Geschäftsmodell: Einnahmequellen

Rohölverkäufe

Für das Geschäftsjahr 2022 meldete GeoPark einen Rohölabsatz von insgesamt 21.085 Barrel pro Tag (bopd), mit einem durchschnittlichen realisierten Preis von 75,7 US-Dollar pro Barrel.

Region	Ölproduktion (bopd)	Durchschnittspreis ($/Barrel)
Kolumbien	16,085	$72.3
Argentinien	5,000	$78.5

Einnahmen aus der Erdgasproduktion

Im Jahr 2022 erzielte GeoPark einen Erdgasumsatz von 98,4 Millionen US-Dollar bei einem Produktionsvolumen von 39,6 Millionen Kubikfuß pro Tag (mmcfd).

• Kolumbiens Erdgasproduktion: 25,6 mmcfd
• Argentiniens Erdgasproduktion: 14,0 mmcfd

Gebühren für Explorations- und Produktionsverträge

Die Vertragsgebühren von GeoPark für Explorations- und Produktionsdienstleistungen beliefen sich im Jahr 2022 auf insgesamt 45,2 Millionen US-Dollar.

Servicetyp	Vertragsgebühren ($)
Explorationsdienste	22,7 Millionen US-Dollar
Produktionsoptimierung	22,5 Millionen US-Dollar

Strategien zur Monetarisierung von Vermögenswerten

Im Jahr 2022 implementierte GeoPark Strategien zur Monetarisierung von Vermögenswerten und generierte zusätzliche Einnahmen in Höhe von 67,5 Millionen US-Dollar.

• Vermögensverkäufe: 42,3 Millionen US-Dollar
• Joint-Venture-Vereinbarungen: 25,2 Millionen US-Dollar

Diversifiziertes Energieproduktportfolio

Der Gesamtumsatz für 2022 betrug 575,6 Millionen US-Dollar, mit folgender Aufteilung:

Produkt	Umsatz ($)	Prozentsatz
Rohöl	376,2 Millionen US-Dollar	65.4%
Erdgas	98,4 Millionen US-Dollar	17.1%
Vertragsgebühren	45,2 Millionen US-Dollar	7.9%
Monetarisierung von Vermögenswerten	55,8 Millionen US-Dollar	9.6%

GeoPark Limited (GPRK) - Canvas Business Model: Value Propositions

You're looking at the core value GeoPark Limited (GPRK) delivers to its stakeholders, grounded in its late 2025 operational and financial performance. This isn't about future promises; it's about what the numbers show right now, especially after integrating the Vaca Muerta assets.

One key value is the high-margin production platform. For the third quarter of 2025, GeoPark Limited reported an Adjusted EBITDA margin of 57%. This level of profitability demonstrates strong cost control, with operating costs at a competitive $12.5 per barrel of produced boe in 3Q2025.

Capital efficiency is another pillar. The company achieved a capital-efficient reserve replacement, reporting a 2025 Finding, Development, and Acquisition (FD&A) cost of $4.3 per boe on a 2P basis. This cost structure supports the long-term asset build-out, which is crucial for sustained returns.

The asset base provides geographic diversification across Latin America. GeoPark Limited's 2025 Work Program was built on operations spanning Colombia, Argentina, Brazil, and Ecuador, although the company was actively divesting non-core interests in Ecuador and Brazil as of late 2025. The core value now centers on the combined strength of the established Colombian base and the transformational growth platform in Argentina's Vaca Muerta formation.

For shareholders, GeoPark Limited emphasizes reliable returns. The initial 2025 plan targeted an annual dividend of approximately $30 million. Following the Vaca Muerta acquisition, the Board approved a revised program targeting a total distribution of approximately $6 million over the subsequent four quarters, commencing with the 3Q2025 payout of $1.5 million (or $0.03 per share).

The company offers a long-term production runway, evidenced by its reserve metrics as of December 31, 2025. The 2P Reserve Life Index (RLI) stands at 12.7 years. This longevity is supported by a 2P Reserve Replacement Ratio of 430% for 2025, with total 2P reserves reaching 121 million barrels of oil equivalent.

Here's a quick look at the key metrics underpinning these value propositions:

Metric	Value	Period/Basis
Adjusted EBITDA Margin	57%	3Q2025
FD&A Cost (2P Basis)	$4.3 per boe	2025 Year-End
2P Reserve Life Index (RLI)	12.7 years	As of December 31, 2025
Targeted Annual Dividend	Approximately $30 million	2025 Plan
Actual Quarterly Dividend	$1.5 million	3Q2025 Payout

The strength of the asset base is further detailed by its composition and efficiency targets:

• Total 2P Reserves: 121 mmboe as of December 31, 2025.
• 2P Reserve Replacement Ratio: 430% for 2025.
• 2025 Production Guidance (Base Case): 35,000 boepd (± 2,500 boepd range).
• Vaca Muerta contribution to 2025 reserves: Represents 30% of total 2025 reserves.
• Colombia 2P Reserves Growth (Ex-Divestments): Increased by approximately 2.6 mmboe.

Finance: draft 13-week cash view by Friday.

GeoPark Limited (GPRK) - Canvas Business Model: Customer Relationships

You're looking at the relationships GeoPark Limited (GPRK) maintains with the entities that buy its product, govern its operations, and fund its growth as of late 2025. These relationships are critical, especially given the recent major acquisition in Argentina.

Transactional, high-volume sales contracts with crude oil purchasers.

GeoPark Limited (GPRK) manages sales through established commercial channels, ensuring consistent offtake for its production volumes. The company actively manages price risk through hedging, which is a key part of the commercial relationship framework.

• As of August 5, 2025, approximately 87% of expected 2025 production was hedged with price floors between $68-$70/bbl.
• The company reported a $4.9 million gain from commodity risk management contracts recognized in 2Q2025 revenue.
• For 2026, protection was secured for approximately 9,000 boepd of 1H2026 and 8,000 boepd of 2H2026 production.
• Following the Vaca Muerta acquisition closing on October 16, 2025, crude is being sold locally, and procurement is underway to secure the activity plan for 2026.

Direct engagement with national governments for concession agreements.

Operating across Latin America means direct, formal relationships with host governments are central to asset tenure and development. The recent Vaca Muerta acquisition highlights this, involving specific provincial government agreements.

Governmental/Regulatory Aspect	Asset/Block	Key Metric/Detail
Concession Agreement Transfer	Loma Jarillosa Este and Puesto Silva Oeste (Vaca Muerta, Argentina)	5% Working Interest (WI) to be transferred to state-owned Gas y Petróleo del Neuquen
Acquisition Effective Date	Vaca Muerta Assets	October 16, 2025
Royalty Rate (Historical Reference)	Manati field (Brazil)	Royalties calculated at 7.5% of gas production
Royalties Paid in Kind (3Q2025)	Colombia Operations	Approximately 4,612 bopd in 3Q2025

The operational consolidation in Vaca Muerta began less than 10 days after closing, showing rapid alignment with the new governmental partners.

Investor relations focus to communicate disciplined capital allocation and returns.

Investor communications in late 2025 centered on the new long-term strategy, emphasizing discipline following the Vaca Muerta investment phase. The focus is on maintaining balance sheet strength while delivering returns.

Financial Metric/Action	Period/Reference Point	Reported Value or Target
Target ROACE (2025 Guidance)	2025 Work Program	> 30%
Planned Annual Dividend (2025)	2025 Work Program	Approximately $30 million
Revised Dividend Distribution	Commencing 3Q2025 Payout	Total expected distribution of approximately $6 million over four quarters
Quarterly Dividend Declared	2Q2025 Results Payout	$0.147 per share (approximately $7.5 million)
Debt Reduction	As of October 2025 announcement	Gross financial debt reduced by 17% (approximately $540 million)
Net Debt to EBITDA Target	Long-term (post-investment phase)	0.8-1.0x

The Board approved the suspension of dividends commencing with the 3Q2026 results, aligning with increased capital expenditures for Vaca Muerta.

Long-term, defintely stable relationships with key service contractors.

Operational excellence is underpinned by efficiency gains achieved through contractor relationships, particularly in drilling and well intervention. These relationships translate directly into cost savings and improved cycle times.

• New-generation rig operations achieved 30% cost savings compared to the 2024 drilling campaign.
• Average drilling cost dropped from $245/ft to $171/ft.
• The cost efficiency program captured $12.5 million in efficiencies by the end of July 2025, equating to about $17.5 million in annualized structural savings.
• Workover campaigns, like the one focused on 18 wells in 3Q2025, exceeded plan by 4% in water production reduction.

Proactive communication during operational disruptions (e.g., temporary blockades).

When operations are disrupted, GeoPark Limited (GPRK) communicates the impact and the recovery plan clearly to stakeholders. This was evident following blockades in 2Q2025.

• Temporary blockades at the CPO-5 Block in 2Q2025 resulted in 16 days of shut-in production.
• The CPO-5 Block's 2Q2025 production was down 8% from 1Q2025, primarily due to these shut-ins.
• By 3Q2025, production in the CPO-5 Block rebounded, reaching 7,075 bopd net, up 16% from 2Q2025, reflecting reduced downtime.
• A force majeure flooding event also impacted the Llanos 34 Block in 3Q2025, which was communicated alongside the performance metrics.

Finance: draft 13-week cash view by Friday.

GeoPark Limited (GPRK) - Canvas Business Model: Channels

You're looking at how GeoPark Limited (GPRK) gets its product-crude oil, condensate, and natural gas-to the market as of late 2025. It's all about the physical and contractual pathways they use to turn barrels in the ground into cash in the bank.

Direct sales of crude oil and condensate to international and regional buyers

GeoPark Limited (GPRK) relies on established offtake agreements for its primary revenue driver, crude oil and condensate sales. A key example is the agreement with the Dutch commodities trading firm Vitol to sell a minimum of 20,000 bopd of production specifically from the Llanos 34 Block in Colombia. This agreement, which started in July 2024, was structured to improve price realizations by 15 cents per barrel versus the then-current agreement. The company's overall production profile for 2025 was guided to be approximately 97% oil and 3% natural gas.

The realized prices you see reflect the market and these sales structures. For instance, the combined realized price per barrel of oil equivalent (boe) in the first quarter of 2025 (1Q2025) was $62.8/boe. By the second quarter of 2025 (2Q2025), this figure had softened slightly to $57.1/bbl.

Pipeline and transportation infrastructure for delivery from fields (e.g., Llanos 34)

Getting the oil out of the fields requires dedicated infrastructure, which is a critical part of the channel. For the strategically important Llanos 34 Block in Colombia, GeoPark Limited (GPRK) established a crucial transport route back in 2019 by connecting the block to the Oleoducto de Los Llanos (ODL) pipeline. This infrastructure supports the block's production, which for the third quarter of 2025 (3Q2025) averaged 16,953 boepd net (or 37,674 boepd gross).

The operational efficiency of these transport links is key to maintaining low costs, which for 2Q2025 stood at a competitive $12.3 per barrel of produced boe.

Sales of natural gas to local utilities or industrial customers

While oil dominates the mix, natural gas sales are also a component, though the portfolio is actively being streamlined. GeoPark Limited (GPRK) recently divested its 10% stake in the Manati natural gas field offshore Brazil for a total consideration of $1 million. Despite the divestment activity, the remaining interest in Manati showed operational improvement in 3Q2025, with output increasing from an average of 350 to 1,000 boepd during the quarter. For context on the gas revenue stream, the sale of gas in 1Q2024 was $3.5 million, though the summary for 1Q2025 showed a dash (-) for this line item.

Trading desks for managing commodity hedging contracts

GeoPark Limited (GPRK) uses its trading desk capabilities to manage commodity price volatility through hedging contracts, which directly impacts realized revenue. As of August 5, 2025, the company had proactively hedged approximately 87% of its expected 2025 production, using Brent price floors between $68-$70/bbl. This hedging strategy delivered tangible results, with a $4.9 million gain from commodity risk management contracts recognized in the 2Q2025 revenue. Earlier in the year, around May 4, 2025, about 70% of the expected 2025 pro forma production was protected via hedging instruments with floors in the $68 to $70 per barrel range.

Export terminals for crude oil shipments

While specific terminal names aren't detailed in the latest operational updates, the connection of major assets like Llanos 34 to the ODL pipeline serves as the primary route to market, which ultimately connects to export facilities. The company's overall production in 1Q2025 was 29,076 boepd (or 36,279 boepd pro forma including Vaca Muerta), all of which must flow through these established transportation and export channels.

Here's a quick look at the production volumes that feed these channels through the first three quarters of 2025:

Metric	1Q2025 (Consolidated)	2Q2025 (Consolidated)	3Q2025 (Consolidated)	2025 Guidance (Oil/Gas Mix)
Average Net Production (boepd)	29,076	27,380	28,136	Target: 35,000
Llanos 34 Net Production (boepd)	N/A	17,605	16,953	N/A
Crude Oil Sales Revenue ($ million)	137.1	N/A	N/A	N/A

The company is actively managing its asset base, evidenced by the divestment of non-core assets like the Llanos 32 Block in Colombia and the Manati gas field in Brazil, which together represented projected output of approximately 1,500 boe/day in the 2025 business plan.

Finance: review Q4 2025 sales forecast against Vitol offtake commitment by next Tuesday.

GeoPark Limited (GPRK) - Canvas Business Model: Customer Segments

You're looking at the core groups GeoPark Limited serves with its Latin American E&P (Exploration & Production) output and equity structure as of late 2025. Honestly, in this business, the customer segments are pretty straightforward: it's who buys the barrels and who owns a piece of the company.

The bulk of the business centers on selling crude oil, which represented 100% of consolidated revenue in the First Quarter of 2025 (1Q2025). This means the primary customers are those who process or trade that physical commodity.

Here's a look at the key customer segments GeoPark Limited serves:

• International and national oil trading companies (crude oil and condensate).
• Regional refineries and petrochemical plants.
• Local power generation and industrial gas consumers.
• Financial investors seeking exposure to Latin American E&P (shareholders).
• Government entities (as royalty and tax recipients).

For the oil and condensate buyers, the scale of the operation in 2025 gives you a solid benchmark. For instance, in 3Q2025, GeoPark Limited reported consolidated average oil and gas production of 28,136 boepd (barrels of oil equivalent per day). Deliveries to their offtakers in 1Q2025 totaled 24,309 boepd. To give you context on the pricing environment they sell into, the consolidated realized oil sales price was $65.3 per bbl in 1Q2025, though it settled lower at $57.1/bbl in 3Q2025.

The segment dealing with natural gas is currently smaller, reflecting portfolio changes. Consolidated gas revenue was $3.5 million in 1Q2024, but there was zero consolidated gas revenue recorded in 1Q2025, mainly because of the suspended production at the Manati gas field in Brazil, with the divestment closing expected in 4Q2025.

The financial investors are a critical segment, as they provide the capital base. As of September 30, 2025, the market capitalization stood at $328M, with 51.7 million shares outstanding. Institutional ownership was reported at 31.18%, held by 105 institutional owners filing with the SEC. Major shareholders include entities like Renaissance Technologies Llc and Fourth Sail Capital LP. The commitment to this segment is underscored by the declared quarterly cash dividend, which was $0.147 per share in 1Q2025 and revised to $0.03 per share for 3Q2025.

The government entities are customers in a regulatory sense, receiving payments based on production volume. For example, in Colombia, royalties and other economic rights paid in kind amounted to approximately 4,612 bopd in 3Q2025. The structure of ownership also shows a direct, albeit small, stake held by Governments at 0.02% based on the 1000 largest holdings.

Here's a snapshot of the operational and financial context that frames these customer relationships as of late 2025:

Metric	Value (Latest Reported Period)	Period Reference
Consolidated Revenue	$125.1 million	3Q2025
Consolidated Production	28,136 boepd	3Q2025
Realized Oil Price	$57.1 per bbl	3Q2025
Operating Costs per boe	$12.5	3Q2025
Production Hedged (Floor Price)	87% (at $68-$70/bbl)	2Q2025 expectation
Total 2P Reserves	121 mmboe	Year-end 2025 estimate

It's important to note that GeoPark Limited is actively managing its portfolio to serve these segments better; for instance, they completed the acquisition in Argentina's Vaca Muerta, which is set to contribute to 2025 production starting in 4Q2025, and they are expecting the closing of the divestment of their WI in the Manati gas field during 4Q2025. This portfolio shift directly impacts the gas consumer segment. If onboarding takes 14+ days, churn risk rises for the trading companies waiting on delivery, so logistics are key.

Finance: draft 13-week cash view by Friday.

GeoPark Limited (GPRK) - Canvas Business Model: Cost Structure

You're looking at the cost side of GeoPark Limited (GPRK)'s engine as of late 2025. The company's cost structure is heavily influenced by its operational efficiency in Colombia and the capital intensity required to scale its new platform in Argentina's Vaca Muerta formation. Keeping operating costs low is a key lever for profitability in this commodity business.

The operational costs are definitely competitive. For the third quarter of 2025, GeoPark reported operating costs averaging around $12.5 per barrel of produced boe, which was right in line with the guidance set for the full year 2025. This efficiency is partly due to capturing structural savings; by the end of 3Q2025, the company had realized over $15 million in efficiencies, equating to about $19.5 million in annualized structural savings.

However, the cost structure is also characterized by significant upfront spending. Exploration and development activities require substantial capital expenditures, which act as a major fixed cost component, especially with the new growth strategy. Capital expenditures in 3Q2025 totaled $17.5 million, mainly directed toward maintaining and improving production in core assets like Llanos 34. Looking ahead, the planned capital expenditure for 2026 is set between $190-220 million, showing the near-term fixed cost commitment to growth.

Financing this growth involves debt, which brings interest expense into the cost picture. At the close of 3Q2025, GeoPark's net debt stood at $373.4 million. This debt level, while supported by a low leverage ratio of 1.2x at that time, still translates to a significant interest expense burden that must be managed against operating cash flow.

Royalties and economic rights paid to host governments are another layer of cost, often settled in kind rather than cash, particularly in Colombia. This means a portion of the physical production volume is allocated before the company recognizes its revenue-bearing barrels. The cost structure is being actively managed to reduce overhead, too. GeoPark launched a targeted cost efficiency program aiming for $5-7 million in annual savings across Operating Expenses (OPEX) and G&A expenses through reductions in workforce and contractor use.

Here's a quick look at some of the key cost and related metrics from the 3Q2025 period and forward guidance:

Cost/Metric Category	Value (3Q2025 or Latest)	Unit/Context
Operating Costs	$12.5	per barrel of produced boe (3Q2025)
Net Debt	$373.4 million	at end of 3Q2025
Capital Expenditures	$17.5 million	in 3Q2025
Annualized Structural Savings Achieved	$19.5 million	as of end of 3Q2025
Targeted Annual G&A/OPEX Savings	$5-7 million	Annual Target
Royalties Paid In Kind (Colombia)	4,612 bopd	in 3Q2025
Projected 2026 Capital Expenditures	$190-220 million	2026 Guidance
Targeted G&A Cost	$3/bbl	by 2028

The structure of these costs highlights a few critical areas you should watch:

• Sustaining the low operating cost base, targeting near $12/bbl by 2028.
• Managing the fixed cost of capital expenditures, projected to rise to $350-380 million by 2028.
• The impact of interest expense tied to the $373.4 million net debt position.
• The volume impact from royalties paid in kind, which was 4,612 bopd in the third quarter.

Finance: draft 13-week cash view by Friday.

GeoPark Limited (GPRK) - Canvas Business Model: Revenue Streams

You're looking at the core engine of GeoPark Limited's financial performance, which is heavily tied to commodity prices and operational output. The revenue streams are straightforward for an independent exploration and production company, but the recent quarterly figures give us a clear picture of the current operating environment as of late 2025.

Primary revenue from the sale of crude oil is the dominant factor. While the specific revenue percentage for late 2025 isn't explicitly broken out in the latest reports, the production guidance for 2025 indicated a mix weighted at approximately 97% oil and 3% natural gas. This means the vast majority of the top line is directly exposed to Brent crude pricing dynamics.

The other components of the revenue base include the sale of natural gas and condensate. These volumes, while smaller in proportion to oil, still contribute to the overall sales figure.

Looking at the most recent reported periods, GeoPark Limited posted a Q2 2025 revenue of $119.8 million. This was followed by a slight sequential increase in the third quarter, with Q3 2025 revenue reaching $125.1 million, driven by higher volumes and stable realized prices.

The company actively manages price volatility through its hedging program, which generates recognizable gains that flow into revenue. For instance, GeoPark recognized a $4.9 million gain from commodity risk management contracts in its 2Q2025 results. This defensive strategy is key to stabilizing cash flow. The third quarter also saw a contribution from this activity, with a $1.5 million gain from commodity risk management contracts recognized in 3Q2025 revenue.

To give you a snapshot of profitability alongside revenue generation, the Adjusted EBITDA of $71.4 million in 3Q2025 is a critical metric, representing a 57% margin for that quarter. This shows the underlying operational strength even with fluctuating commodity prices.

Here's a quick look at the key revenue-related financial markers from the recent quarters:

Metric	Q2 2025 Value	Q3 2025 Value
Revenue	$119.8 million	$125.1 million
Adjusted EBITDA	$71.5 million (60% margin)	$71.4 million (57% margin)
Commodity Hedging Gain	$4.9 million	$1.5 million

You should also note the specific components that make up the total sales figure, which are subject to various deductions:

• Sale of crude oil (the main driver).
• Sale of natural gas.
• Sale of condensate.
• Revenue is reported net of value-added tax.
• Revenue is net of overriding royalties retained by ex-owners of properties.

Finance: draft 13-week cash view by Friday.