Welcome to our dedicated page for Geopark news (Ticker: GPRK), a resource for investors and traders seeking the latest updates and insights on Geopark stock.
GeoPark Limited (NYSE: GPRK) generates a steady stream of news as an independent energy company with over 20 years of operations across Latin America. Company updates frequently focus on its oil and gas exploration, development, and production activities in Colombia and Argentina, as well as broader portfolio and capital allocation decisions.
Readers following GeoPark news can expect detailed announcements on its strategic plan, including the balance between its core Colombian production base and its growing unconventional position in Argentina’s Vaca Muerta formation. Releases cover operational updates on key blocks such as Llanos 34, Llanos 123, and CPO-5 in Colombia, and the Loma Jarillosa Este and Puesto Silva Oeste blocks in Neuquén Province, Argentina.
News items also include quarterly financial and operational results, reserves assessments certified under PRMS methodology, and guidance on production, capital expenditures, and Adjusted EBITDA under various Brent price scenarios. Corporate developments, such as the completion of acquisitions, debt repurchase programs, dividend policy changes, and Board decisions regarding unsolicited acquisition proposals, are disclosed through press releases and accompanying Form 6-K filings.
This page aggregates GeoPark-related headlines, including operational updates, reserves reports, strategic transactions, and governance matters. Investors and analysts can use it to track how the company executes its two-fold strategy in Colombia and Argentina, monitors costs, manages hedging, and responds to corporate interest from third parties. For ongoing context around GPRK, consider revisiting this news feed regularly to review the latest company-issued information.
GeoPark Limited (NYSE: GPRK) has announced its independent oil and gas reserves assessment for 2021, certified by DeGolyer and MacNaughton. The company reported 2P reserves of 136 million BOE in Colombia with a net present value after tax of $2 billion. Highlights include a 117% reserve replacement rate of proven developed reserves and average production of 55,971 bopd. Future capital expenditures are projected to be $160-180 million for 2022 with expected free cash flow of up to $250 million at higher oil prices.
GeoPark Limited (NYSE: GPRK) has announced its first hydrocarbon discovery in the Perico block in Ecuador. The Jandaya 1 well, drilled to a depth of 10,975 feet, encountered 70-80 feet of potential hydrocarbon reservoir across three formations, with a primary focus on the Hollin formation. Initial production tests yielded 750 barrels of oil per day and 0.8 million standard cubic feet of gas. The company plans to continue exploration activities, including drilling in the Tui prospect and further seismic studies in the Espejo Block as part of a $160-180 million capital expenditure program for 2022.
GeoPark Limited (NYSE: GPRK) reported a 4% decline in quarterly average oil and gas production in 4Q2021, totaling 37,928 boepd. Reasons include reduced gas output and the impact of community protests in Colombia's Putumayo basin. Significant increases were noted in Colombia's Llanos 34 block, achieving 58,270 bopd gross. The company plans to drill 40-48 gross wells in its 2022 program, anticipating $90-250 million in free cash flow depending on oil prices. A dividend of $0.041 per share was also announced.
GeoPark Limited (NYSE: GPRK) has announced the retirement of Board member Pedro Aylwin, effective December 31, 2021. Aylwin served as Head of Legal and Governance since 2011 and contributed to the company’s governance improvements and growth. The Board will not replace him, reducing its size to six members and increasing the independent member majority to 66.6%. Chairman Sylvia Escovar expressed gratitude for Aylwin's contributions, wishing him well in future endeavors.
GeoPark Limited (NYSE: GPRK) has initiated a multi-year drilling campaign in Colombia's CPO-5 Block, with the spudding of the Indico 4 well. The company operates six drilling rigs and three workover rigs across three basins. In November 2021, consolidated oil and gas production averaged 38,915 boepd, with exit production at 39,500 boepd. For 2022, GeoPark plans $160-180 million in capital expenditures, targeting 40-48 wells, and anticipates generating $90-140 million in free cash flow. The Colombian government recognized the company for its sustainable community development initiatives.
GeoPark Limited (NYSE: GPRK) has unveiled a comprehensive Greenhouse Gas (GHG) emissions reduction strategy aimed at substantial decreases in emissions intensity. The plan targets a 35-40% reduction in Scope 1 and 2 emissions by 2025, escalating to 40-60% by 2030, with aspirations for net-zero emissions by 2050. This initiative, developed with Kearney consulting, leverages current operations in Colombia, Ecuador, Chile, Brazil, and Argentina, focusing on solar energy and reduced carbon intensity.
GeoPark Limited (NYSE: GPRK) has outlined its work program and investment guidelines for 2022, projecting production growth of 5-10% to average 35,500-37,500 boepd. A capital expenditure of $160-180 million will focus on low-risk development and high-potential exploration in Colombia and Ecuador. The company anticipates generating an operating netback of $400-450 million, with free cash flow expectations ranging from $90-140 million at $65-70 per barrel Brent prices. Shareholder returns include a quarterly dividend of $0.041 per share and a renewed share buyback program.
GeoPark Limited (NYSE: GPRK) announced a quarterly cash dividend of $0.041 per share, totaling $2.5 million, payable on December 7, 2021. This dividend rewards shareholders of record as of November 23, 2021. Additionally, the company renewed its share repurchase program, allowing for the buyback of up to 10% of outstanding shares, approximately 6,074,000 shares, until November 10, 2022. GeoPark aims to enhance shareholder value while maintaining strong operational performance and generating free cash flow.
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.