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Financial instruments by category (Tables)
12 Months Ended
Dec. 31, 2024
Disclosure of detailed information about financial instruments [line items]  
Schedule of Financial Instruments by Category

Assets as per statement

of financial position

Amounts in US$ '000

   

2024

   

2023

Financial assets at fair value through profit or loss

Derivative financial instrument assets

2,764

3,775

2,764

3,775

Other financial assets at amortized cost

Trade receivables (Note 23)

40,211

65,049

To be recovered from co-venturers (Note 34)

9,740

8,630

Other financial assets (a)

21,108

12,564

Cash and cash equivalents (b)

276,750

133,036

347,809

219,279

Total financial assets

350,573

223,054

(a)Non-current other financial assets as of December 31, 2023, related to restricted deposits made for environmental obligations according to Brazilian government regulations, which were recovered and replaced by a bank guarantee in September 2024. Current other financial assets correspond to the security deposit granted in relation to the proposed acquisition of certain Repsol exploration and production assets in Colombia (see Note 35.2) and short-term investments with original maturities up to twelve months and over three months.
(b)Cash and cash equivalents include US$ 152,000,000 drawn from Vitol (see Note 30.1), which are expected to be used for the final payment of the acquisition in Argentina (see Note 35.1).

Liabilities as per statement

of financial position

Amounts in US$ ‘000

   

2024

   

2023

Liabilities at fair value through profit and loss

Derivative financial instrument liabilities

464

70

464

70

Other financial liabilities at amortized cost

Trade payables

93,435

108,977

Customer advance payments (Note 29)

152,000

To be paid to co-venturers (Note 34)

1,829

522

Lease liabilities (Note 27)

25,923

32,298

Borrowings (Note 26)

514,333

500,981

787,520

642,778

Total financial liabilities

787,984

642,848

Schedule of Credit Quality of Financial Assets

The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings (if available) or to historical information about counterparty default rates:

Amounts in US$ ‘000

   

2024

   

2023

Trade receivables

Counterparties with an external credit rating (Moody’s, S&P, Fitch)

A3

949

Baa1

1,721

Baa3

178

151

Ba1

260

15,068

Ba2

2,953

B2

63

Counterparties without an external credit rating

Group 1 (a)

39,773

44,144

Total trade receivables

40,211

65,049

(a)Group 1 – no existing balances with customers aged by more than 3 months. The receivables from counterparties without an external credit rating mainly correspond to Vitol and Trafigura, two of the world’s leading commodity traders, with whom GeoPark has offtake and prepayment agreements in place (see Note 30).
Schedule of Financial Liabilities - contractual undiscounted cash flows

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

   

Less than 1

   

Between 1

   

Between 2

   

Over 5

Amounts in US$ ‘000

year

and 2 years

and 5 years

years

As of December 31, 2024

Borrowings

37,500

27,500

513,750

Lease liabilities

8,933

3,752

10,032

18,558

Trade payables

93,435

Customer advance payments (Note 30.1)

152,000

To be paid to co-venturers (Note 34)

1,829

293,697

31,252

523,782

18,558

As of December 31, 2023

Borrowings

27,500

27,500

541,250

Lease liabilities

9,416

6,515

11,719

25,134

Trade payables

108,977

To be paid to co-venturers (Note 34)

522

146,415

34,015

552,969

25,134

Schedule of Fair Value Hierarchy

The following table presents the Group’s financial assets and financial liabilities measured and recognized at fair value as of December 31, 2024 and 2023, on a recurring basis:

   

   

   

As of December 31,

Amounts in US$ ‘000

Level 1

Level 2

2024

Assets

Derivative financial instrument assets

Commodity risk management contracts

2,764

2,764

Total Assets

2,764

2,764

Liabilities

Derivative financial instrument liabilities

Commodity risk management contracts

464

464

Total Liabilities

464

464

As of December 31,

Amounts in US$ ‘000

Level 1

Level 2

2023

Assets

Derivative financial instrument assets

Commodity risk management contracts

3,775

3,775

Total Assets

3,775

3,775

Liabilities

Derivative financial instrument liabilities

Commodity risk management contracts

70

70

Total Liabilities

70

70

Cash At Bank And Other Financial Assets [Member]  
Disclosure of detailed information about financial instruments [line items]  
Disclosure of credit quality of cash at bank and other financial assets [text block]

Cash at bank and other financial assets (a)

Amounts in US$ ‘000

   

2024

   

2023

Counterparties with an external credit rating (Moody’s, S&P, Fitch, BRC Investor Services)

Aa3

153,330

A1

94,495

91,747

A2

268

A3

9,765

16,147

Baa1

20,114

18

Baa2

9,017

17,585

Baa3

4,091

125

Ba1

234

Ba2

1

6,528

Ba3

5

B1

930

B3

37

593

Caa1

3

Counterparties without an external credit rating

5,830

12,571

Total

297,847

145,587

(a)The remaining balance sheet item ‘cash and cash equivalents’ corresponds to cash on hand amounting to US$11,000 (US$ 13,000 in 2023).