GeoPark reports Q3 revenue $159.5M, down 16% vs. Q2

Quarterly average oil and gas production in 3Q2024 was 33,215 boepd,2 down 4% compared to 3Q2023 mainly due to the divestment of the Chilean business in 1Q2024, suspended operations at the Manati gas field in Brazil production in the Llanos 34 Block not offsetting the natural base decline, and continued blockades affecting operations in the Llanos 34 and CPO-5 Blocks. These factors were previously identified as risks, and their realization has impacted production within the anticipated 1,500-2,500 boepd average range for the year Andres Ocampo, Chief Executive Officer of GeoPark (GPRK), said: “In the third quarter, we continued to build on our strengths, generating robust cash flow and efficiently advancing our strategic initiatives with a disciplined $45.9 million investment in capital expenditures. This investment focused on key development, appraisal, and exploration activities across our core assets in Colombia and Ecuador. Our expansion into Vaca Muerta also took an important step forward with a recent field trip, where alongside our partner, Phoenix Global Resources, we hosted a group of fixed income and equity investors. This visit provided an invaluable opportunity to showcase our growth strategy first hand and highlight the scalable, efficient growth potential of our unconventional assets in Vaca Muerta. We remain committed to disciplined capital allocation and maximizing shareholder value as we unlock further potential in our core assets and prepare for sustained, long-term growth in Argentina.”