GeoPark Terminates Vaca-Muerta Acquisition

GeoPark Limited said that the previously disclosed transaction to acquire a non-operated working interest in four unconventional blocks in Vaca Muerta, Argentina, has been terminated. The counterparty, Phoenix Global Resources, exercised its contractual right to withdraw from the agreement following the Outside Date of May 13, 2025, as defined in the original FarmOut Agreement.

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Key Highlights:

• Transaction Terminated: The acquisition of Vaca Muerta blocks will not proceed.

• Contractual Basis: Both parties had the right to withdraw after May 13, 2025; Phoenix elected to do so.

• Impact: No change to GeoPark’s operational or financial posture.

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Strategic and Financial Position:

Despite the transaction termination, GeoPark reaffirms its commitment to its North Star strategy—focused on profitable, dependable, and sustainable growth through:

• Big Assets, Big Plays, Big Basins

Financial Strength:

• Cash Balance: $330 million

• Net Leverage: <1.0x

• Hedging: ~87% of 2025 volumes covered

• Capital Flexibility: To support dividends, share buybacks, debt reduction, and M&A

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