GeoPark's Venezuela Production Participation Contract Takes Effect

07:16 AM EST, 11/02/2026 (MT Newswires) -- GeoPark (GPRK) said Monday a 25-year production participation contract for the Bare Block in Venezuela is now effective along with the completion of the share issuance deal with Grupo Gilinski. The company said it issued roughly 42.1 million shares to Grupo Gilinski, bringing its stake in GeoPark to approximately 56.3% and making it the company's controlling shareholder. Under the deal, Grupo Gilinski must launch a tender offer within 90 days to acquire up to $100 million of additional GeoPark shares at $12.22 each, according to a statement. Grupo Gilinski may also receive up to about 5.4 million additional shares if certain milestones are met by Dec. 1, GeoPark said. GeoPark shares were down more than 1% in premarket activity Monday.