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 reports news on its Latin American oil and gas exploration and production portfolio, centered on continuing operations in Colombia and Argentina. Updates cover production and drilling in the Llanos 34, CPO-5 and Llanos 123 blocks, waterflooding activity in Colombia, and development work in Vaca Muerta assets including Loma Jarillosa Este and Puesto Silva Oeste.
Company news also includes quarterly financial results, realized pricing, hedging and cash flow trends, debt and liquidity actions, portfolio acquisitions and divestitures, strategic equity investment, and shareholder-governance matters involving board nominations and capital allocation.
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.