Geopark Ltd · NYSE:GPRK
Geopark — Investor Presentation (September 2023)
24 slides from Geopark's investor presentation, September 2023
Slide 1: Corporate Presentation September 2023
CORPORATE PRESENTATION September 2023
Slide 2: Leading Independent LatAm E&P Company: Long-Term Value Proposition
LEADING INDEPENDENT LATAM E&P COMPANY LONG-TERM VALUE PROPOSITION ENDURING PRINCIPLES AND APPROACH Energy Oil & Gas Latin America GeoPark Approach Building the Right Team Leading Oil and Gas Finders Proven Team and Unique Culture Drilling Success Rate** 75%+ 20 Year Track Record SPEED = ESG+ From ze
Slide 3: Right Neighborhood
RIGHT NEIGHBORHOOD 3
Slide 4: Llanos 34: A World-Class Asset
RIGHT NEIGHBORHOOD LLANOS 34: A WORLD-CLASS ASSET Chiricoca KEY METRICS VENEZUELA VENEZUELA Chachalaca LL-34 LLA-34 Tilo Llanos COLOMBIA Basin Max ECUADOR COLOMBIA Tigana PERU BRAZIL ECUADOR BRAZIL PERU Guaco Tarotaro 55,307 93% 9.7 kgCO2e/BOE 9.4 Years* Tua Gross BOPD Production efficiency Low emis
Slide 5: Llanos 34: Biggest Discovery in the Last 20 Years in Colombia
RIGHT NEIGHBORHOOD LLANOS 34: BIGGEST DISCOVERY IN THE LAST 20 YEARS IN COLOMBIA GROSS OIL PRODUCTION PROFILE SINCE ACQUISITION ACQUIRED WITH ZERO PRODUCTION AND ZERO RESERVES 80,000 180 VALUATION 160 70,000 CUMULATIVE GROSS OIL PRODUCTION (MMBBLS) Purchase Price (45% WI) $30 Million 140 60,000 Net
Slide 6: CPO-5: Growing Production & Unlocking the Upside
RIGHT NEIGHBORHOOD CPO-5: GROWING PRODUCTION & UNLOCKING THE UPSIDE KEY METRICS Llanos 34 block Jacana Field VENEZUELA Cabrestero block CPO-5 Llanos Basin Halcon-1 COLOMBIA Exploration Mariposa Well IL ECUADOR BBRRAAZZIL Field PERU 17,807 5 2.5x 6.2 Years Indico Field Producing Gross BOPD Increased
Slide 7: CPO-5 Block: Fastest Growing Asset in Colombia
RIGHT NEIGHBORHOOD CPO-5 BLOCK: FASTEST GROWING ASSET IN COLOMBIA GROSS PRODUCTION PROFILE SINCE ACQUISITION IN 2020 SIGNIFICANT EXPLORATION INVENTORY & POTENTIAL UPSIDE TO CONTINUE GROWING PRODUCTION & RESERVES 25,000 VALUATION 25 Purchase Price (30% WI) $225 Million* Net Cash Flows 2020-1H2023 (Be
Slide 8: Llanos Basin Champion
RIGHT NEIGHBORHOOD LLANOS BASIN CHAMPION UPCOMING CATALYSTS (AUG-DEC 2023) HIGH GROWTH POTENTIAL IN WELL-KNOWN BASIN Expanding Knowledge 1 Exploration Well – Halcon 1 GeoPark Exploration Blocks CPO-5 GeoPark Producing Blocks 4,000+ sq km GeoPark Non-0perated, 30% WI 1 Development Well – Indico 3 Geo
Slide 9: Putumayo & Oriente: Underexplored Proven Basin
RIGHT NEIGHBORHOOD PUTUMAYO & ORIENTE: UNDEREXPLORED PROVEN BASIN KEY HIGHLIGHTS PUTUMAYO KEY HIGHLIGHTS ORIENTE PUT-36 VENEZUELA COLOMBIA Mecaya 2,456 1,600 - 1,700 Putumayo Gross BOPD Basin PLATANILLO Gross BOPD (2Q2023) (Current production) ECUADOR PUT-9 BRAZIL OTA PERU PUT-8 COLOMBIA 97% 5 Produ
Slide 10: Solid and Profitable Business
SOLID AND PROFITABLE BUSINESS 10
Slide 11: Low-Cost & Efficient Operator
SOLID AND PROFITABLE BUSINESS LOW-COST & EFFICIENT OPERATOR PRODUCTION GROWTH (BOEPD) ON THE GROUND OPERATIONAL EXPERIENCE 12% CAGR CONSOLIDATED (2013-2023E) 38,000-40,000 18% CAGR COLOMBIA (2013-2023E) 110+ MM 280+ BOE Net Produced Gross Wells Drilled (2006-2022) (2013-2022) 10 Rigs 480+ / 2,400+ 6
Slide 12: Cost & Capital Efficiency Leads to Superior Results
SOLID AND PROFITABLE BUSINESS COST & CAPITAL EFFICIENCY LEADS TO SUPERIOR RESULTS CASH GENERATION 2-4x CAPEX IN EVERY OIL PRICE ENVIRONMENT LAST TWELVE-MONTH RETURN ON CAPITAL EMPLOYED (ROCE) OF 51%* TO JUNE 2023 3.2x 3.5x ~3x Operating Netback ($MM) 593 500-575 Operating Netback/CAPEX Ratio (x time
Slide 13: 2023 Free Cash Flow & Returns
SOLID AND PROFITABLE BUSINESS 2023 FREE CASH FLOW & RETURNS STRONG FREE CASH FLOW GENERATION 2023E Free Cash Flow* ($MM) at $80-90 per BBL (Brent) 500-575 (120-130) (60-70) (50-55) (130-170)** (27-30) 90-120 Operating Netback Development Capex Exploration Capex Cash G&A/G&G Cash Taxes Mandatory Debt
Slide 14: Strong Balance Sheet with Safety Nets in Place
SOLID AND PROFITABLE BUSINESS STRONG BALANCE SHEET WITH SAFETY NETS IN PLACE ASSETS AND SAFETY NETS LIABILITIES Well-structured, low-cost & long-maturing debt profile $86 MM Hedges in Place Securing Cash & Cash Equivalents Base Oil Price (June 30, 2023) $275 MM debt Proven Team and Track reduction s
Slide 15: Hedging Program Secures Base Oil Price
SOLID AND PROFITABLE BUSINESS HEDGING PROGRAM SECURES BASE OIL PRICE APPROACH DIVERSIFIED HEDGING COUNTERPARTIES ZERO COST 12-15 30-50% COLLARS MONTHS % PRODUCTION Structure Tenor Hedge Target HEDGE BOOK OVERVIEW 120 $112.6 $110.6 Hedged Production CEILING CEILING (BBL/D) 100 $94.7 $90.9 $90.4 $94.7
Slide 16: Creating & Returning Value to Shareholders
SOLID AND PROFITABLE BUSINESS CREATING & RETURNING VALUE TO SHAREHOLDERS 10 YEARS OUTPERFORMING BRENT RETURNED 30% OF MARKET CAP SINCE 2019 210% $52 MM $7.5 MM Total Distributed Dividend Yield 2023 SHAREHOLDER Quarterly Cash 2019 - 2Q2023 RETURN TARGET +40% ~5.5%* 110% Dividend 40-50% of Free Cash F
Slide 17: SPEED (ESG+) Since Day One
- Cte ‘ : : ml \ GEOPARK ——. SPEED (ESG+) SINCE DAY
Slide 18: Safety First
SPEED SINCE DAY ONE SAFETY FIRST CULTIVATING A CULTURE OF SAFETY 2022 KEY METRICS 8.6 8.1 7.4 6.2 0.4 BARRELS of oil spilled per million barrels 1.84 produced 0.87 0.80 0.61 0.70 20 DAILY TRAINING SESSIONS 0.29 7,212 health and safety sessions delivered in 2022* 0.40 0.35 2019 2020 2021 2022 Total R
Slide 19: Environment: Clean Hydrocarbons
SPEED SINCE DAY ONE ENVIRONMENT: CLEAN HYDROCARBONS CLIMATE ACTION GHG EMISSION INTENSITY REDUCTION TARGETS BIODIVERSITY Contribute to the goal of Scopes 1 & 2 (GeoPark operated) Baseline: 2020 stopping deforestation Short Term Medium Term Long Term 35-40% 40-60% Net Zero INTEGRAL WATER Emission int
Slide 20: Social: Employer and Neighbor of Choice
SPEED SINCE DAY ONE SOCIAL: EMPLOYER AND NEIGHBOR OF CHOICE INVESTING IN... WELLBEING & QUALITY OF LIFE Contribute to meeting basic needs OUR EMPLOYEES own shares in the Company EDUCATION, CULTURE AND SPORT 100% have access to wellness benefits Create opportunities to promote territorial transformat
Slide 21: Governance: Best Practices
SPEED SINCE DAY ONE GOVERNANCE: BEST PRACTICES INDEPENDENT BOARD MEMBERS CHAIR OF THE BOARD SYLVIA ROBERT A. CONSTANTINE SOMIT CARLOS E. ESCOVAR BEDINGFIELD PAPADIMITRIOU VARMA MACELLARI • Former CEO of Terpel • Former Lead Partner at EY • International investor and • International investor in oil,
Slide 22: Consolidator
CONSOLIDATOR 22
Slide 23: Multiple Opportunities in Basins Across Latin America
CONSOLIDATOR MULTIPLE OPPORTUNITIES IN BASINS ACROSS LATIN AMERICA GEOPARK APPROACH STRONG TRACK RECORD OF CREATING VALUE THROUGH ACQUISITIONS • Geology first: best basins, best rocks, best play types selected by G&G Team • Achieve scale with value: production and reserves with upside • Great econom
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