Solid Operational and Financial Performance
GeoPark delivered solid operational and financial results despite market volatility, a lower Brent price environment, and divestment of non-core assets. Consolidated average production for the quarter was 27,380 barrels of oil equivalent per day, contributing to a year-to-date average of 28,223 barrels of oil equivalent per day, in line with guidance.
Operational Efficiency Improvements
The drilling team achieved significant efficiency improvements, reducing average well costs by more than 30% and reducing pad-to-pad mobilization time from 7 days to 18 hours.
Financial Flexibility and Cost Management
Adjusted EBITDA was $71.5 million with a 60% margin. Operating costs remained within 2025 guidance at $12.3 per barrel. The company ended the quarter with $266 million in cash and a net leverage ratio of 1.1x.
Successful Exploration Activities
In Llanos 123, two exploration wells, Currucutu-1 and Toritos Sur-3, were drilled and completed, contributing new production and demonstrating additional upside.
Dividend Distribution
The Board approved the payment of a $7.5 million dividend for the second quarter of 2025, reflecting the company's performance during the period.