Geopark Ltd Stock Price, News & Analysis

GeoPark Limited (GPRK) provides an operational update amidst protests in Colombia affecting its logistics and supply chains. The unrest has led to temporary production curtailments since May 8, currently limiting net production by 4,000-5,000 boepd. As of now, net consolidated production stands at 35,000-36,000 boepd, down from 38,131 boepd in Q1 2021. Progress is being made as conditions improve, allowing for the resumption of drilling and well maintenance activities. The company prioritizes employee safety and will revise production guidance as the situation evolves.

GeoPark Limited (NYSE: GPRK) provides an update on the impact of ongoing protests in Colombia, which began on April 28, 2021. Despite the dismissal of a new tax reform proposal, national demonstrations continue, affecting logistics and supply chains. The company reports a production reduction of 12,000-15,000 boepd, accounting for 40-45% of its Colombian production. Operations in Chile, Brazil, and Argentina remain unaffected. GeoPark prioritizes employee safety and is in discussions to mitigate the situation impact, planning to revise production guidance once conditions stabilize.

GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.0205 per share, totaling $1.25 million, payable on May 28, 2021, to shareholders of record by May 17, 2021. The company is focused on delivering strong operational and financial performance while generating free cash flow and returning value to shareholders. Additional information is available on the company’s website.

GeoPark Limited (NYSE: GPRK) reported its 1Q2021 financial results, showing consolidated oil and gas production of 38,131 boepd and revenue of $146.6 million. Despite an operating profit of $15.9 million, the company faced a net loss of $10.3 million, primarily due to cash hedge losses. A robust cash position of $187.6 million supported a $130-150 million work program targeting increased production. A quarterly dividend of $0.0205 per share was announced along with successful debt reductions. The company continues to adapt its strategies amid fluctuating oil prices.

GeoPark Limited (NYSE: GPRK) announced a successful first phase of its strategic deleveraging process aimed at significantly reducing debt and improving its financial position. This includes a tender offer to purchase $255 million of its 6.500% Senior Notes due 2024, partially funded by new 5.500% Senior Notes due 2027. The process is expected to yield a $105 million reduction in financial debt and annual interest savings of approximately $9 million. Total demand for the new notes peaked at over $780 million, reflecting strong institutional interest.

GeoPark Limited (NYSE: GPRK) announced the pricing of $150 million in 5.500% senior notes due 2027, offered at an issue price of 101.875% with a yield to maturity of 5.117%. This issuance is in addition to a previously issued $350 million of similar notes. The proceeds will be used to purchase part of its outstanding 6.500% Senior Notes due 2024 through a tender offer and for general corporate purposes. The settlement is expected on April 23, 2021, pending customary closing conditions.

GeoPark Limited (GPRK) announced early tender results for its tender offer to purchase up to $255 million of its 6.500% Senior Notes due 2024. As of April 19, 2021, it received valid tenders and consents totaling $334.23 million, surpassing the maximum amount. This secures the necessary consents for proposed amendments to the indenture, expected to be executed shortly. Holders of validly tendered notes will receive a total consideration of $1,050 per $1,000 principal amount. The tender offer is set to expire on May 3, 2021.

GeoPark Limited (NYSE: GPRK) announced a private placement of senior notes amounting to a reopening of $350 million of 5.500% Notes due 2027. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons per Regulation S. Proceeds will fund a cash tender offer for part of its 6.500% Senior Notes due 2024 and for general corporate purposes. The timing and terms depend on market conditions. This press release does not constitute an offer or solicitation in any jurisdiction where it would violate laws.

GeoPark Limited (NYSE: GPRK) reported its operational update for 1Q2021, revealing a consolidated oil and gas production of 38,131 boepd, down 17% from 1Q2020. Major highlights include a 69% production increase in the CPO-5 block, despite a 19% drop in Colombia's overall output. Proven reserves stood at 58.5 mmboe, with a full-year work program budget of $130-150 million aimed at achieving average production of 41,000-43,000 boepd. The company has a strong balance sheet, with $187 million in cash and an ongoing share buyback program.