GeoPark Limited ("GeoPark" or the "Company") (NYSE:GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, today announced divestments of certain non-core assets and cost reduction initiatives to better position the Company for profitable, dependable and sustainable long-term growth.

In line with its commitment to disciplined capital allocation, the Company will divest the non-core, non-operated Llanos 32 Block in Colombia and Manati gas field in Brazil for an aggregate total consideration of $20 million1 (net of $12 million liabilities related to decommissioning or retirement obligations, with respect to the Manati gas field). Combined, these assets had aggregate net 1P PRMS reserves of 2.9 mmboe (60% oil, 40% natural gas) at 2024 year-end and an average production of 712 boepd in 2024. Together, the assets represented approximately 1,500 boepd in the 2025 plan, with an associated adjusted EBITDA2 of $10-13 million at $70-80/bbl Brent.

Furthermore, GeoPark is evaluating strategic options for its assets in Ecuador.

In addition to the timely monetization of the above non-core assets, GeoPark is currently implementing targeted cost reduction and cost efficiency measures that the Company expects will deliver annual savings of approximately $5-7 million in OPEX/G&A costs. These initiatives include immediate adjustments to structure costs, including reductions in our workforce and to consultants, contractors, and other administrative expenses.