UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
July 2025
Commission File
Number: 001-36298
GeoPark Limited
(Exact name of registrant as specified in its
charter)
Calle 94 N°
11-30 8° piso
Bogota, Colombia
(Address of principal executive office)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
GEOPARK LIMITED
TABLE OF CONTENTS
| ITEM |
|
| 1. |
Press Release dated July 16, 2025 titled “GeoPark Announces Second
Quarter 2025 Operational Update” |
Item
1
FOR
IMMEDIATE DISTRIBUTION
GEOPARK
ANNOUNCES SECOND QUARTER 2025 OPERATIONAL UPDATE
DISCIPLINED
EXECUTION SUPPORTS PRODUCTION WITHIN GUIDANCE
LLANOS
BASIN YIELDS NEW DISCOVERIES
Bogota,
Colombia – July 16, 2025 - GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent
energy company with over 20 years of successful operations across Latin America, announces its operational update for the three-month
period ended June 30, 2025 (“2Q2025”).
Oil
and Gas Production and Operations
| · | Year-to-date
consolidated average oil and gas production of 28,223 boepd |
| · | 2Q2025
consolidated average oil and gas production of 27,380 boepd, reflecting solid delivery from
core operated and non-operated assets |
| · | Production
was 6% lower than 1Q2025, mainly explained by the divestment of the Llanos 32 Block (GeoPark
non-operated, 12.5% WI), as well as temporary blockades in the CPO-5 Block (GeoPark non-operated,
30% WI), which led to 16 days of shut-in production |
| · | The
infill drilling campaign in the Llanos 34 Block (GeoPark operated, 45% WI) experienced delays,
which were partially offset by production recovery through base management, waterflooding,
and workovers |
| · | A
total of 5 wells were drilled and completed in 2Q2025, bringing the year-to-date total to
10 wells |
| · | An
exploration discovery at the Currucutu-1 well in the Llanos 123 Block (GeoPark operated,
50% WI), produced an initial 1,360 bopd gross |
Llanos 34 Block: Managing Production through
Interventions and Cost Efficiency
| · | 2Q2025
average production of 17,605 boepd net (39,122 boepd gross), down 3% from 1Q2025 and in line
with expected decline rates |
| · | Waterflooding
projects contributed approximately 6,500 boepd gross (17% of gross production), exceeding
plan by 27% |
| · | Workover
campaign focused on water shutoff delivered 2,100 boepd gross and reduced water production
by 23,000 bwpd, exceeding plan by 4% |
| · | New-generation
rig significantly improved drilling efficiency, completing six wells and one sidetrack with
23% faster operations and 30% cost savings compared to the 2024 drilling campaign, lowering
average drilling cost from $245/ft to $171/ft. Mobilization time between pads was reduced
from 7 days to 18 hours |
| · | The
1H2025 infill drilling campaign was successfully completed in the Tigui area, with four wells
currently producing approximately 3,000 bopd gross, exceeding initial expectations and confirming
strong reservoir performance |
CPO-5 Block: Production Stability Amid Operational Disruption
| · | 2Q2025
average production reached 6,100 bopd net (20,333 bopd gross), down 8% from 1Q2025, primarily
driven by the higher-than-anticipated downtime due to 16 days of shut-ins in the Indico field.
Despite the impact, production performance remained stable with no water breakthrough and
as of the publishing of this report the field is operating normally |
| · | 3D
seismic interpretation advanced, with new prospects identified and incorporated into the
portfolio. Integration with existing surveys is currently underway |
Llanos Exploration: Llanos 123 Discoveries
Drive Production
| · | 2Q2025
average production increased to 2,150 boepd net (4,300 boepd gross), driven by 2,008 boepd
net in the Llanos 123 Block (GeoPark operated, 50% WI) |
| - | Currucutu-1
exploration well was drilled and completed in April 2025, with an initial production of 1,360
bopd. The well is currently producing approximately 500 bopd |
| - | Toritos
Sur-3 well was drilled and completed during June 2025 with initial production tests of 900
bopd from the Mirador Formation (exploration target) and 630 bopd from the Barco formation
(development target). An extended production test is planned for the Lower Mirador to further
assess its potential |
Upcoming Catalysts 3Q2025
| · | Drilling
2-4 gross wells in Colombia, targeting appraisal and exploration projects |
| - | Llanos
123 Block: Drilling 1-2 appraisal and exploration wells |
| - | Llanos 104 Block (GeoPark operated, 50% WI): Drilling 1-2 exploration wells |
Breakdown of Quarterly Production
by Country
The following table shows production figures for
2Q2025, as compared to 2Q2024:
| |
| 2Q2025 | | |
| 2Q2024 | |
| |
| Total
(boepd) | | |
| Oil
(bopd)a | | |
| Gas
(mcfpd) | | |
| Total
(boepd) | | |
| %
Change | |
| Colombia |
| 25,868 | | |
| 25,868 | | |
| — | | |
| 33,956 | | |
| -24 | % |
| Ecuador |
| 1,281 | | |
| 1,281 | | |
| — | | |
| 1,652 | | |
| -23 | % |
| Brazil |
| 231 | | |
| 3 | | |
| 1,371 | | |
| — | | |
| 100 | % |
| Total
|
| 27,380 | | |
| 27,151 | | |
| 1,371 | | |
| 35,605 | | |
| -23 | % |
| a) | Includes royalties and other economic rights paid in kind in Colombia for approximately 4,236 bopd in
2Q2025. No royalties were paid in kind in Ecuador or Brazil. Production in Ecuador is reported before the Government’s production
share of approximately 327 bopd. |
Quarterly Production
| (boepd) |
| 2Q2025 | | |
| 1Q2025 | | |
| 4Q2024 | | |
| 3Q2024 | | |
| 2Q2024 | |
| Colombia |
| 25,868 | | |
| 27,610 | | |
| 29,740 | | |
| 31,429 | | |
| 33,956 | |
| Ecuador |
| 1,281 | | |
| 1,466 | | |
| 1,749 | | |
| 1,786 | | |
| 1,652 | |
| Brazil |
| 231 | | |
| — | | |
| — | | |
| — | | |
| — | |
| Totala |
| 27,380 | | |
| 29,076 | | |
| 31,489 | | |
| 33,215 | | |
| 35,608 | |
| Oil |
| 27,151 | | |
| 28,972 | | |
| 31,354 | | |
| 33,091 | | |
| 35,504 | |
| Gas |
| 229 | | |
| 104 | | |
| 135 | | |
| 124 | | |
| 104 | |
| a) | In Colombia, production includes royalties paid in kind, and in Ecuador it is shown before the Government’s
production share. |
Reporting Date for 2Q2025 Results Release,
Conference Call and Webcast
GeoPark will report its 2Q2025 financial results
on Wednesday, August 6, 2025, after market close.
GeoPark management will host a conference call
on Thursday, August 7, 2025, at 10:00 am (Eastern Daylight Time) to discuss the 2Q2025 financial results.
To listen to the call, participants can access
the webcast located in the Invest with Us section of the Company’s website at www.geo-park.com, or by clicking below:
https://events.q4inc.com/attendee/211725993
Interested parties can join the conference call
by using the following dial-in information:
United States Participants: +1 404-975-4839
Global Dial-In Numbers:
https://www.netroadshow.com/events/global-numbers?confId=72342
Passcode: 553033
Please allow extra time prior to the call to visit
the website and download any streaming media software that might be required to listen to the webcast.
An archive of the webcast replay will be made
available in the Invest with Us section of the Company’s website at www.geo-park.com after the conclusion of the live
call.
For further information, please contact:
MEDIA:
NOTICE
Additional information about GeoPark can be found
in the “Invest with Us” section on the website at www.geo-park.com.
Rounding amounts and percentages: Certain amounts
and percentages included in this press release have been rounded for ease of presentation. Percentages included in this press release
have not in all cases been calculated on the basis of such rounded amounts, but on the basis of such amounts prior to rounding. For this
reason, certain percentages in this press release may vary from those obtained by performing the same calculations on the basis of the
amounts in the financial statements. Similarly, certain other amounts included in this press release may not sum due to rounding.
CAUTIONARY
STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute
forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking
words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’
‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’
‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number
of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding
various matters, including, drilling campaign, reductions in drilling completion time and costs, production guidance, and cost efficiency
savings. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to
the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed
or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the
date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments
or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence
of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements
are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
Oil and gas production figures included in this
release are stated before the effect of royalties paid in kind, consumption and losses. Annual production per day is obtained by dividing
total production by 365 days.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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GeoPark Limited |
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By: |
/s/ Jaime
Caballero Uribe |
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Name: |
Jaime Caballero Uribe |
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Title: |
Chief Financial Officer |
Date: July 16, 2025
