GeoPark Limited Q4 FY2025 earnings call

2025 marked a turning point with strategic clarity. Strengthened foundation through production and financial discipline. Repositioned for long-term value creation. In Colombia, achieved production stabilization with various projects. In Argentina, began contributing production ahead of plan. Launched acquisition of Loma Jarillosa Este and Puesto Silva Oeste blocks in Vaca Muerta. In January 2026, agreed to acquire Frontera Energy's Colombian upstream assets, which more than doubles reserve space and expands scale.

Full year 2025 production averaged 28,233 barrels of oil equivalent per day, above the upper end of guidance. Fourth quarter volumes averaged 28,351 barrels of oil equivalent per day. Adjusted EBITDA reached $277 million for the full year within guidance range, with $46 million in the fourth quarter. Operating cost averaged $13.4 per barrel for the year and G&A stood at an average of $4.8 per barrel, achieving $32 million in structural cash savings.

2026 OPEX guidance is $13 to $15 per barrel, G&A expected at $4 per barrel. Targeting 44,000 to 46,000 barrels of oil equivalent per day and adjusted EBITDA of $490 to $520 million by 2028, with Frontera acquisition integration expected to bring additional upsides.

Include competitive development and risk factors listed in SEC reports, such as oil price fluctuations, transaction integration risks, and currency exchange rate impacts.

Q: On cost base and Frontera situation; A: Discussed cost evolution, one-offs, Frontera deal progress and PADEX nomination conflict.

Q: On Argentina production and JANOS partner; A: Talked about Argentina production milestones and JANOS partner negotiations.

Q: On polymer project and Venezuela market; A: Provided polymer project update and discussed Venezuela market impacts