Geopark Ltd Stock Price, News & Analysis

GeoPark Limited (NYSE: GPRK) reported strong financial results for 3Q2021, with revenues of $174.0 million, an increase of 77% year-over-year. Oil production reached 32,844 bopd, up 6% from 2Q2021, while adjusted EBITDA rose 55% to $86.8 million. Despite disruptions due to protests in the Platanillo block, production was restored by November 4, 2021. The company is divesting non-core assets in Argentina for $16 million and expects to close this transaction by early 2022. A quarterly dividend of $0.041 per share is payable on December 7, 2021.

GeoPark Limited (NYSE: GPRK) has released its operational update for 3Q2021, reporting a consolidated production of 37,859 boepd, a 4% increase from the previous quarter. Oil production rose by 6% to 32,844 bopd, primarily due to growth in Colombia, while gas production fell by 9% due to declines in Chile and Brazil. GeoPark is also actively drilling with four rigs in Colombia, including successful operations in the Llanos 34 block. The company has initiated drilling activities in Ecuador and is focusing on low-risk projects for 2022. Additionally, the quarterly dividend has increased to $0.041 per share.

GeoPark Limited (NYSE: GPRK) has announced a quarterly cash dividend of $0.041 per share, totaling $2.5 million, to be paid on August 31, 2021. This marks a significant increase, doubling from the previous dividend of $0.0205 per share, or $1.25 million in the aggregate. This decision reflects the Company's commitment to deliver shareholder value while pursuing self-funded growth and reducing debt.

GeoPark Limited (NYSE: GPRK) reported its 2Q2021 financial results with consolidated revenue of $165.6 million, a 198% increase year-over-year. Oil and gas production averaged 36,489 boepd, affected by protests in Colombia, which were resolved by the end of the quarter.

Despite a net loss of $2.5 million, the company recorded a 19.2 million operating profit and strong Adjusted EBITDA of $60.5 million. A quarterly dividend of $0.041 per share will be paid on August 31, 2021.

GeoPark Limited (NYSE: GPRK) reported operational updates for 2Q2021, with consolidated oil and gas production at 36,489 boepd, primarily affected by protests in Colombia. Current production has rebounded to 38,000-39,000 boepd. Revised guidance for 2021 anticipates average production of 38,000-40,000 boepd, down from earlier estimates due to the disruptions. The company executed a deleveraging process, enhancing its debt profile and reporting $85 million in cash equivalents. Shareholders received quarterly dividends totaling $2.5 million and a resumption of share buybacks, indicating a focus on returning value.

Gerald O'Shaughnessy, co-founder and second-largest shareholder of GeoPark Limited (GPRK), addressed the 2021 Annual General Meeting's preliminary voting results. He noted that approximately 37% of unaffiliated shareholders opposed the election of the four targeted director nominees. O'Shaughnessy emphasized that this indicates a desire for change and plans to advocate for shareholder value maximization, aiming to unlock the company's full potential.

GeoPark Limited (NYSE: GPRK) announced the reelection of all Directors for a term ending at the 2022 Annual General Meeting, with over 70.9% support from shareholders. Directors include Sylvia Escovar (Chair), James Park (CEO), and others. The Company emphasized its commitment to governance and maintaining shareholder relationships. Additionally, former nominee Maria Fernanda Suarez's Director appointment is postponed until April 2022 due to new Colombian legislation. The Company aims to adhere to legal standards and values shareholders' insights.

Gerald O’Shaughnessy, co-founder and major shareholder of GeoPark (GPRK), has issued a letter urging shareholders to oppose the re-election of four directors at the upcoming Annual General Meeting. He criticizes the current Board for a lack of oversight and failure to address key strategic issues, particularly concerning high debt levels and underperformance relative to peers. O’Shaughnessy emphasizes the need for a more independent Board to enhance shareholder value and considers the current governance practices detrimental to the Company’s future.

Gerald O’Shaughnessy, co-founder and second largest shareholder of GeoPark Limited (GPRK), has issued a letter urging shareholders to vote against four incumbent board members at the upcoming Annual General Meeting. He criticizes the board for failing to address strategic issues and for allowing CEO Jim Park to operate without proper oversight. O’Shaughnessy highlights concerns over high leverage, declining book value, and the lack of transparency in governance. He argues that voting against these directors is crucial for improving shareholder value and ensuring better corporate governance.