GeoPark, a leading independent energy company with over 20 years of successful operations across Latin America, has announced its operational update for the three-month period ended June 30, 2025.
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)
- Llanos 123 Block:
- 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
- Key projects include:
- 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:
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
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.
Source: GeoPark
