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 Ltd (NYSE: GPRK) delivers timely updates on its oil and gas exploration activities across Latin America through this centralized news hub. Access official press releases, operational developments, and strategic announcements from the independent energy producer.
This resource provides investors with essential updates including quarterly earnings reports, partnership announcements, and production milestones. Track GeoPark's progress in key markets like Colombia and Brazil through verified updates about reserve expansions, drilling results, and sustainability initiatives.
All content undergoes strict verification to ensure accuracy and relevance for financial decision-making. Discover how GeoPark maintains its position through disciplined risk management and technical expertise in complex geological environments.
Bookmark this page for direct access to primary source materials about GeoPark's operations. Combine these updates with broader market analysis for comprehensive investment research.
GeoPark Limited (NYSE: GPRK) announced a tender offer to purchase up to $255 million of its 6.500% Senior Notes due 2024. The offer includes a Consent Solicitation for amendments to the related indenture. The tender offer expires on May 3, 2021, with early tender considerations due by April 19, 2021. Each note holder validly tendering will receive $1,050 in total consideration for each $1,000 principal amount. The amendments aim to align covenants with other debt notes, enhancing operational efficiency.
GeoPark Limited (NYSE: GPRK), a key player in Latin America's oil and gas sector, has filed its Form 20-F for the fiscal year ending December 31, 2020, with the SEC. Shareholders can access this document via the SEC's website or GeoPark's Investor Support section. The company offers hard copies of its audited financial statements upon request. This filing is crucial for transparency and regulatory compliance.
GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.0205 per share, amounting to $1.25 million in total, payable on April 13, 2021. Shareholders of record by March 31, 2021 will be eligible for this dividend. The company aims to ensure strong operational and financial performance along with free cash flow generation while focusing on returning value to its shareholders.
GeoPark Limited (NYSE: GPRK) reported its Q4 2020 and FY2020 financial results, marking an annual average production of 40,192 boepd. Revenue for Q4 was $106.7 million, a 33% decline from the previous year, with a full-year total of $393.7 million. Despite reporting a net loss of $233.0 million for the year, the company achieved free cash flow generation of $77.1 million. GeoPark has a robust cash position of $201.9 million and plans to expand its 2021 work program to $130-150 million, targeting production growth and cost efficiencies.
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.
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