2025 was a transition year in a materially lower oil price environment. Brent averaged $68.2/bbl in FY2025 versus $79.8/bbl in FY2024, and $63.1/bbl in 4Q2025 versus $74.0/bbl in 4Q2024. In this context, GeoPark (GPRK) delivered or exceeded all key 2025 guidance metrics, including production, operating costs and capital expenditures. Average production reached 28,233 boepd in FY2025, above the upper end of the Company’s 26,000-28,000 boepd guidance range. Operating costs averaged $13.2/boe, within the $12-14/boe guidance range, and capital expenditures totaled $98.4 million, consistent with the Company’s disciplined capital program.
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