GeoPark reports first quarter 2026 production of 27,249 boepd

GeoPark Limited (NYSE: GPRK) reported consolidated average oil and gas production of 27,249 barrels of oil equivalent per day for the first quarter of 2026, according to a press release issued by the company.

Production from the company's continuing operations in Colombia and Argentina increased 1% compared to the fourth quarter of 2025, excluding divested Ecuador and Brazil assets. Colombia accounted for 25,819 boepd while Argentina contributed 1,430 boepd during the quarter.

The company operated 9 rigs during the period, comprising 4 drilling and 5 workover rigs, and completed 4 wells in the Llanos 34 and Llanos 123 blocks. GeoPark reported zero lost time injuries, total recordable injuries, Tier 1 process safety events, and motor vehicle crashes during the quarter.

In Colombia's Llanos 34 block, production averaged 15,734 boepd net, down 2.5% from the previous quarter due to natural decline and temporary operational disruptions. Waterflooding projects contributed 6,535 boepd gross, representing 18.7% of the block's total production.

The CPO-5 block produced 6,109 boepd net, declining 7.7% from the fourth quarter primarily due to temporary blockades in February that have since been resolved. Despite these disruptions, production exceeded plan by 16%.

In Argentina, the company initiated drilling of the remaining 3 of 5 lateral sections at Pad-1030 in the Loma Jarillosa Este block and began construction to expand the gathering station capacity from 6,000 to 10,000 barrels per day.

GeoPark's realized oil price averaged $60.4 per barrel in the first quarter, compared to $54.8 per barrel in the fourth quarter of 2025, reflecting stronger Brent prices despite a $7.0 per barrel impact from hedges and earn-outs.

The company plans to drill 5 gross wells in the second quarter of 2026 across Colombia and conduct fracking operations on 5 wells in Argentina. GeoPark will report detailed first quarter 2026 financial results on May 6, 2026.

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