Geopark Ltd Stock Price, News & Analysis

GeoPark Limited (GPRK) announced its independent oil and gas reserves assessment as of December 31, 2020, certified by DeGolyer and MacNaughton. Key highlights include:

• Proven developed (PD) reserves in Colombia increased by 13% to 48.0 mmboe.
• Proven plus probable (2P) reserves rose by 9% to 141.0 mmboe.
• Net present value (NPV10) of 2P reserves grew 3% to $2.1 billion.
• Reserve replacement ratios achieved 146% for PD and 199% for 2P.

The company emphasizes its low-cost development opportunities and a significant exploration potential in Colombia.

GeoPark Limited (NYSE: GPRK) reported a strong operational update for 4Q2020. The company achieved an annual average production of 40,192 boepd, meeting its guidance of 40,000-42,000 boepd. Quarterly production totaled 39,304 boepd, down 6% from 41,786 boepd in 4Q2019, primarily due to drilling limitations. GeoPark resumed shareholder returns with an extraordinary cash dividend of $1.25 million. The company maintained a robust financial position with $201 million in cash and a flexible work program targeted at continued production growth in 2021.

GeoPark Limited (NYSE: GPRK) has confirmed the sale of its 10% non-operated working interest in the Manati gas field, Brazil, to Gas Bridge S.A. for R$144.4 million (approximately $27 million). This transaction includes a fixed payment of R$124.4 million and an earn-out of R$20 million contingent on regulatory approvals. The effective date is December 31, 2020, with closing expected in 4Q2021, pending conditions such as Gas Bridge acquiring the remaining interest in the field. The Manati field holds approximately 3 million barrels of oil equivalent in proven reserves.

GeoPark Limited (NYSE: GPRK) announced the successful testing of the Indico 2 appraisal well in Colombia's CPO-5 block, where it holds a 30% working interest. The well produced approximately 5,500 barrels of oil per day (bopd) with a water cut of just 0.1%. The expected payback period is under three months, assuming a Brent price of $40-45 per barrel. Following this, the drilling rig will move to explore the Aguila prospect. GeoPark plans to continue extensive drilling and seismic activities in the CPO-5 block throughout 2021.

GeoPark Limited (GPRK) has declared an extraordinary cash dividend of $0.0206 per share, totaling $1.25 million, payable on December 9, 2020. A quarterly dividend of the same amount will also be paid on the same date. Furthermore, the Board approved a share buyback program to repurchase up to 10% of shares outstanding, approximately 6,062,000 shares, starting from November 5, 2020 to November 15, 2021. This initiative reflects GeoPark's commitment to enhancing shareholder value.

GeoPark Limited (NYSE: GPRK) has announced its 2021 work program and investment guidelines aimed at generating shareholder value through a self-funded, risk-balanced strategy. The program includes a capital expenditure range of $100-120 million, focusing on development and exploration in multiple South American countries. Production guidance targets average output of 40,000-42,000 boepd. Additionally, the company plans to return value to shareholders via cash dividends and a share buyback program.

GeoPark Limited (NYSE: GPRK) reported its 3Q2020 financial results, posting consolidated revenue of $98.1 million, a 35% decline from $151.2 million in 3Q2019. Oil production averaged 38,845 boepd, marking a 5% increase from the previous quarter, while operating costs per boe decreased by 22% to $6.3. The net loss stood at $4.3 million. GeoPark aims for annual production of 40,000-42,000 boepd in 2021, supported by a reduction in capital expenditures by 56% to $9.8 million, alongside strategic cost-cutting measures.

GeoPark Limited (NYSE: GPRK) reported an operational update for the third quarter of 2020, revealing a consolidated production of 38,845 boepd, a 5% increase from the previous quarter. The company reopened shut-ins and resumed its drilling campaign, aiming for a production target of 40,000-42,000 boepd for the year. Financially, GeoPark maintains strong capital positions with $163 million in cash and cash equivalents as of September 30, 2020. The firm also implemented biosecurity protocols amid the COVID-19 pandemic and improved its ESG reporting.

EnerCom, Inc. announced its 25th annual The Oil & Gas Conference set for July 9, 2020, offering digital access for global attendees. The conference will feature key panels covering the second-half outlook, capital markets, ESG issues, and a private company showcase, encouraging discussions on investment opportunities. The Capital Accelerator program will highlight companies seeking $5 to $10 million for innovative energy projects. Health and safety remain a priority, with a focus on digital participation to ensure safety amidst ongoing health concerns.