GeoPark is an independent oil and gas E&P company focused on Latin America, producing almost entirely crude oil from onshore blocks in Colombia and Argentina. Colombia is the core of the business, accounting for roughly 93% of production, centered on the Llanos Basin. The flagship asset is the Llanos 34 Block, where GeoPark operates with a 45% working interest; this block alone accounts for about 61% of total production and 62% of proved reserves. GeoPark is also a non-operating partner in the CPO-5 block, which contributes roughly 6,500 boepd net. GeoPark sells Colombian crude to commodity traders and oil companies — primarily Vitol and BP under offtake and prepayment agreements — at Brent-linked prices. GeoPark's secondary and growing business is unconventional development in Argentina's Vaca Muerta shale, where GeoPark holds 100% operated interest in two blocks acquired in October 2025. Vaca Muerta is currently a small contributor but is GeoPark's primary growth engine, targeting 20,000 gross boepd on a one-rig program by 2027. GeoPark's revenue is driven almost entirely by barrels produced and realized oil price. The Colombian base is mature and in natural decline, requiring continuous investment in workovers, waterflooding, and infill drilling to sustain production. GeoPark uses oil prepayment facilities with commodity traders as a financing mechanism, selling future production for upfront cash. GeoPark also systematically hedges around 60–70% of production using 3-way collars to protect its capital program against price volatility.