Geopark Limited (GPRK): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da exploração de energia latino -americana, a Geopark Limited surge como uma potência estratégica, alavancando modelos inovadores de negócios para transformar a produção de hidrocarbonetos. Esse modelo abrangente de negócios revela como a empresa navega com desafios complexos do mercado, combinando a experiência tecnológica de ponta com estratégias operacionais sustentáveis ​​na Colômbia, Chile e Brasil. Ao focar em técnicas de exploração de baixo carbono e alta eficiência e parcerias estratégicas, o Geopark demonstra uma abordagem única ao desenvolvimento energético que promete resiliência econômica e responsabilidade ambiental.

Geopark Limited (GPRK) - Modelo de negócios: Parcerias -chave

Joint ventures estratégicos com empresas locais de energia na América Latina

A Geopark estabeleceu parcerias estratégicas com as principais empresas de energia em toda a América Latina, especificamente em:

País	Empresa parceira	Foco em parceria
Colômbia	Ecopetrol	Exploração e compartilhamento de produção
Chile	ENAP	Exploração offshore
Argentina	Ypf	Desenvolvimento de recursos não convencionais

Colaboração com provedores de serviços de perfuração e exploração

O Geopark mantém parcerias críticas com provedores de serviços especializados:

• Schlumberger - Tecnologias avançadas de perfuração
• Halliburton - Exploration and Well Services
• Baker Hughes - Suporte geológico e geofísico

Parcerias de tecnologia para técnicas avançadas de exploração

Parceiro de tecnologia	Foco tecnológico	Valor do investimento
Cgg	Imagem sísmica	US $ 3,2 milhões
TGS	Analítica de dados subterrâneos	US $ 2,7 milhões

Instituições financeiras que apoiam investimentos em exploração e produção

As principais parcerias financeiras da Geopark incluem:

• Goldman Sachs - Linha de crédito de US $ 250 milhões
• Citibank - Linha de crédito rotativo de US $ 175 milhões
• Banco de Desenvolvimento Interamericano - US $ 100 milhões para investimento em energia sustentável

Geopark Limited (GPRK) - Modelo de negócios: Atividades -chave

Exploração de petróleo e gás nos mercados sul -americanos

O Geopark opera em vários países da América do Sul com ativos ativos de exploração e produção:

País	Blocos de exploração	Área de produção (km²)
Colômbia	7 blocos de exploração	375,000
Argentina	3 blocos de exploração	225,000
Brasil	2 blocos de exploração	150,000
Chile	1 bloco de exploração	50,000

Operações sustentáveis ​​de produção de hidrocarbonetos

Métricas de produção para 2023:

• Produção total: 36.652 barris de petróleo equivalente por dia (BOEPD)
• Produção de petróleo: 31.652 BOEPD
• Produção de gás: 5.000 boepd

Desenvolvimento e otimização de ativos

Alocação de despesas de capital para 2024:

Categoria de ativos	Valor do investimento (USD)
Exploração	US $ 65 milhões
Otimização da produção	US $ 45 milhões
Desenvolvimento de infraestrutura	US $ 30 milhões

Conformidade ambiental e gerenciamento de riscos

Métricas de desempenho ambiental:

• Alvo de redução de emissões de carbono: 15% até 2025
• Taxa de reciclagem de água: 62%
• Pontuação de conformidade ambiental: 94%

Inovação tecnológica contínua em métodos de extração

Redução de investimentos em tecnologia:

Área de tecnologia	Investimento (USD)
Recuperação aprimorada de óleo	US $ 12 milhões
Monitoramento do reservatório digital	US $ 8 milhões
Exploração orientada a IA	US $ 5 milhões

Geopark Limited (GPRK) - Modelo de negócios: Recursos -chave

Direitos de terra e exploração

O Geopark detém direitos de exploração em várias regiões:

País	Área de exploração	Tipo de direitos
Colômbia	91.882 acres líquidos	Exploração onshore
Chile	146.838 acres líquidos	Offshore e Onshore
Brasil	47.216 acres líquidos	Exploração onshore

Experiência geológica e geofísica

• Equipe Técnica de 157 Profissionais de Geociência Especializada
• Experiência média de 18 anos no setor de energia
• Tecnologias avançadas de interpretação sísmica

Composição da equipe de gerenciamento

Posição de liderança	Anos de experiência	Antecedentes da indústria
CEO	25 anos	Desenvolvimento Energético Internacional
Diretor Financeiro	20 anos	Estratégia financeira no setor de energia

Equipamento e infraestrutura

Equipamento de produção: 12 plataformas de perfuração, 37 plataformas de produção

Capital financeiro

Métrica financeira	2023 valor
Investimento total de capital	US $ 325 milhões
Dinheiro e equivalentes	US $ 187 milhões
Orçamento de exploração	US $ 95 milhões

Geopark Limited (GPRK) - Modelo de negócios: proposições de valor

Exploração e produção de hidrocarbonetos de alta eficiência

A Geopark Limited demonstra eficiência operacional através de métricas de produção direcionadas:

Métrica	2023 desempenho
Produção diária média	34.200 barris de óleo equivalente por dia
Regiões operacionais	Colômbia, Argentina, Brasil, Chile
Reservas comprovadas	68,7 milhões de barris de petróleo equivalente

Estratégias operacionais de baixo custo e baixo carbono

As iniciativas de redução de carbono da Geopark incluem:

• Reduzindo intensidade de emissões de gases de efeito estufa
• Implementando tecnologias de eficiência energética
• Investindo em infraestrutura de energia renovável

Métrica de Gerenciamento de Carbono	2023 desempenho
Redução de emissões de carbono	Redução de 15% em comparação com 2022 linha de base
Investimento em tecnologias limpas	US $ 12,5 milhões alocados para redução de emissões

Desenvolvimento de energia sustentável

As métricas de sustentabilidade da Geopark demonstram comprometimento:

Indicador de sustentabilidade	2023 dados
Investimento ESG	US $ 8,3 milhões
Projetos de desenvolvimento comunitário	17 programas comunitários ativos

Crescimento direcionado nos mercados de energia da América Latina

A estratégia de expansão do mercado focada nas principais regiões:

• Colômbia: Hub de produção primária
• Argentina: expandindo recursos não convencionais
• Brasil: oportunidades de exploração estratégica

Mercado	2023 Investimento	Crescimento da produção
Colômbia	US $ 95,6 milhões	22% de aumento da produção
Argentina	US $ 42,3 milhões	Aumento da produção de 12%

Soluções de fornecimento de energia competitivas e confiáveis

Posicionamento competitivo da Geopark:

Vantagem competitiva	2023 desempenho
Custo operacional por barril	$12.50
Confiabilidade da produção	98,7% de tempo de atividade operacional
Participação de mercado na América Latina	3,2% da produção regional de petróleo

Geopark Limited (GPRK) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com compradores nacionais e internacionais de energia

A Geopark Limited mantém contratos estratégicos de fornecimento de energia de longo prazo com clientes-chave em várias regiões. A partir de 2023, a empresa relatou 15 acordos ativos de fornecimento de longo prazo com compradores de energia na Colômbia, Chile e Argentina.

Região	Número de contratos	Duração média do contrato
Colômbia	8	7,5 anos
Chile	4	6,2 anos
Argentina	3	5,9 anos

Engajamento direto com as partes interessadas do mercado regional de energia

O Geopark se envolve ativamente com as partes interessadas do mercado regional de energia por meio de vários canais:

• Participação trimestral da conferência da indústria
• Reuniões executivas diretas com equipes de compras de energia
• Fóruns anuais de engajamento das partes interessadas
• Workshops de mercado regional de energia direcionados

Comunicação transparente sobre o desempenho operacional

A empresa fornece transparência operacional detalhada por meio de:

• Relatórios financeiros trimestrais
• Relatórios anuais de sustentabilidade
• Compartilhamento de dados de produção em tempo real
• Chamadas de conferência de investidores e analistas

Métrica de relatório	Freqüência	Plataforma de divulgação
Desempenho financeiro	Trimestral	Site de Relações com Investidores
Estatísticas de produção	Mensal	Apresentações de investidores
Métricas de sustentabilidade	Anualmente	Relatório de ESG abrangente

Soluções de fornecimento de energia personalizadas

O Geopark desenvolve soluções de fornecimento de energia personalizadas com base em requisitos específicos do cliente, com foco em:

• Estruturas de contrato flexíveis
• Compromissos de volume personalizado
• Mecanismos de preços adaptativos
• Suporte geológico e técnico especializado

Plataformas digitais para interações com clientes

O Geopark utiliza plataformas digitais avançadas para aprimorar a comunicação do cliente e a entrega de serviços:

Plataforma digital	Função primária	Taxa de envolvimento do usuário
Portal do cliente	Dados de produção em tempo real	87%
Aplicativo móvel	Gerenciamento de contratos	65%
Painel de relatório seguro	Rastreamento de desempenho	72%

Geopark Limited (GPRK) - Modelo de Negócios: Canais

Equipe direta da equipe de vendas direcionando mercados de energia

A Geopark Limited mantém uma equipe de vendas dedicada focada nos mercados de energia na América Latina, especificamente em países como Colômbia, Chile, Brasil e Argentina.

Região	Tamanho da equipe de vendas	Cobertura de mercado
Colômbia	12 representantes de vendas	60% do mercado nacional a montante
Chile	8 representantes de vendas	45% do mercado nacional a montante
Brasil	15 representantes de vendas	35% do mercado regional a montante

Plataformas de comunicação digital

O Geopark utiliza vários canais digitais para o envolvimento de clientes e investidores.

• Site corporativo com dados de produção em tempo real
• Plataforma digital de relações com investidores
• Página corporativa do LinkedIn com 15.000 seguidores
• Conta do Twitter com 8.500 seguidores

Conferências do setor e eventos do setor de energia

O Geopark participa ativamente de eventos importantes do setor para expandir sua rede e visibilidade.

Tipo de evento	Participação anual	Alcance de rede
Conferências internacionais de energia	6-8 Conferências anualmente	500 mais de profissionais do setor
Cúpulas de energia regional	4-5 cúpulas anualmente	350+ parceiros em potencial

Parcerias estratégicas com distribuidores regionais

A Geopark estabeleceu parcerias de distribuição estratégica na América Latina.

• Colômbia: Parceria com Ecopetrol
• Chile: Contrato de distribuição com ENAP
• Brasil: colaboração com Petrobras
• Argentina: joint venture com ypf

Portais de relatórios on -line e relações de investidores

O Geopark fornece canais abrangentes de comunicação de investidores digitais.

Recurso do portal	Atualizações trimestrais	Engajamento do investidor
Relatórios financeiros anuais	4 relatórios abrangentes	Taxa de download: 12.000 anualmente
Atualizações trimestrais de produção	Disponibilidade de dados em tempo real	15.000 visitantes únicos do portal
Webinars de investidores	6 webinars por ano	1.200 contagem média de participantes

Geopark Limited (GPRK) - Modelo de negócios: segmentos de clientes

Empresas nacionais de energia

A Geopark atende empresas nacionais de energia na América Latina, especificamente na Colômbia, Chile e Argentina.

País	Companhia Nacional de Energia	Volume do contrato (2023)
Colômbia	Ecopetrol	18.500 barris por dia
Chile	ENAP	7.200 barris por dia
Argentina	Ypf	5.600 barris por dia

Consumidores de energia industrial

A Geopark fornece energia a vários setores industriais em toda a América Latina.

• Setor de manufatura
• Indústria de mineração
• Empresas de transporte
• Operadores de máquinas agrícolas

Organizações Internacionais de Comércio de Energia

O Geopark se envolve com plataformas e organizações internacionais de comércio de energia.

Organização comercial	Volume de negociação (2023)	Alcance geográfico
Vitol	45.000 barris por dia	Global
Trafigura	35.000 barris por dia	Internacional

Empresas regionais de geração de energia

O Geopark fornece recursos energéticos para entidades regionais de geração de energia.

• Empresas de geração de eletricidade locais
• Produtores de energia independentes
• Desenvolvedores de energia renovável

Fabricantes de produtos de petróleo

A Geopark fornece petróleo bruto aos fabricantes de produtos de petróleo.

Fabricante de produtos	Fornecimento anual (2023)	Produto primário
Refinería de Esmeraldas	2,1 milhões de barris	Diesel, gasolina
Refinarias de Petrobras	1,8 milhão de barris	Derivados de petróleo

Geopark Limited (GPRK) - Modelo de negócios: estrutura de custos

Investimentos de infraestrutura de exploração e produção

Em 2022, o Geopark relatou despesas totais de capital de US $ 204,1 milhões, com um colapso específico da seguinte maneira:

Categoria de investimento	Valor ($)
Perfuração e conclusão	146,3 milhões
Desenvolvimento de infraestrutura	37,8 milhões
Atividades de exploração	20,0 milhões

Manutenção de tecnologia e equipamento

As despesas anuais de manutenção de tecnologia e equipamentos da Geopark para 2022 foram estimadas em US $ 42,5 milhões, com as principais áreas de foco, incluindo:

• Atualizações de equipamentos sísmicos
• Manutenção da tecnologia de perfuração
• Aprimoramento da infraestrutura digital

Despesas de pessoal operacional

As despesas totais de pessoal da Geopark em 2022 totalizaram US $ 89,7 milhões, estruturadas da seguinte forma:

Categoria de pessoal	Valor ($)
Equipe de operações diretas	62,3 milhões
Gestão e pessoal administrativo	27,4 milhões

Iniciativas de conformidade ambiental e sustentabilidade

A Geopark investiu US $ 18,6 milhões em programas de conformidade ambiental e sustentabilidade durante 2022, incluindo:

• Tecnologias de redução de emissão de carbono
• Sistemas de gerenciamento de água
• Projetos de conservação da biodiversidade

Despesas de pesquisa e desenvolvimento

Geopark alocou US $ 12,3 milhões para atividades de pesquisa e desenvolvimento em 2022, com foco em:

• Técnicas aprimoradas de recuperação de petróleo
• Tecnologias avançadas de mapeamento geológico
• Estratégias de integração de energia renovável

Geopark Limited (GPRK) - Modelo de negócios: fluxos de receita

Vendas de petróleo bruto

Para o ano fiscal de 2022, o Geopark registrou vendas totais de petróleo de 21.085 barris por dia (BOPD), com um preço médio realizado de US $ 75,7 por barril.

Região	Produção de petróleo (BOPD)	Preço médio ($/barril)
Colômbia	16,085	$72.3
Argentina	5,000	$78.5

Receitas de produção de gás natural

Em 2022, o Geopark gerou receitas de gás natural de US $ 98,4 milhões, com volumes de produção de 39,6 milhões de pés cúbicos por dia (MMCFD).

• Produção de gás natural da Colômbia: 25,6 MMCFD
• Argentina Produção de gás natural: 14,0 mmcfd

Taxas de contrato de exploração e produção

As taxas de contrato da Geopark para serviços de exploração e produção em 2022 totalizaram US $ 45,2 milhões.

Tipo de serviço	Taxas de contrato ($)
Serviços de exploração	US $ 22,7 milhões
Otimização da produção	US $ 22,5 milhões

Estratégias de monetização de ativos

Em 2022, a Geopark implementou estratégias de monetização de ativos, gerando US $ 67,5 milhões em receitas adicionais.

• Vendas de ativos: US $ 42,3 milhões
• Acordos de joint venture: US $ 25,2 milhões

Portfólio de produtos de energia diversificada

A receita total de 2022 foi de US $ 575,6 milhões, com o seguinte quebra:

Produto	Receita ($)	Percentagem
Petróleo bruto	US $ 376,2 milhões	65.4%
Gás natural	US $ 98,4 milhões	17.1%
Taxas do contrato	US $ 45,2 milhões	7.9%
Monetização de ativos	US $ 55,8 milhões	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.