Geopark Ltd Stock Price, News & Analysis

GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.127 per share, totaling $7.5 million, payable on December 7, 2022. Additionally, the company's Board has renewed its share repurchase program until December 31, 2023, allowing for the buyback of up to 10% of its shares, approximately 5,854,285 shares. The company aims to return 40-50% of its free cash flow to shareholders through dividends and buybacks, reflecting confidence in its operational and financial performance.

GeoPark Limited (NYSE: GPRK) has announced its ambitious 2023 work program focused on low-risk, high-potential exploration and increased shareholder returns. The company is targeting an average production of 39,500-41,500 boepd with a capital expenditure of $200-220 million. Adjusted EBITDA is expected to reach $510-580 million, doubling total capital expenditures. Shareholder returns are projected to be 40-50% of free cash flow, amid a backdrop of reduced gross debt by $170 million and $50 million in distributions since January 2022. A tax reform in Colombia may impact future cash flows.

GeoPark Limited (NYSE: GPRK) reported robust third-quarter 2022 results with a record net profit of $73.4 million and revenue growth of 48% to $258.2 million. Oil and gas production increased by 8% year-over-year, averaging 38,396 boepd. The company anticipates self-funding its 2023 capital expenditures of $200-220 million, targeting 39,500-41,500 boepd. A quarterly dividend of $0.127 per share and a renewed share buyback program demonstrate strong shareholder returns. However, localized blockades may have impacted production in the Llanos basin, reducing net production by approximately 230 bopd.

GeoPark Limited (NYSE: GPRK) reports an 8% increase in consolidated oil and gas production for Q3 2022, totaling 38,396 boepd, with a current production rate of approximately 40,000 boepd. The company expects to meet its full-year target of 38,500-40,500 boepd. They redeemed $67 million in debt and generated $250-280 million in free cash flow, yielding a free cash flow yield of 33-37%. A quarterly dividend of $0.127 per share was paid, representing a 4% yield. GeoPark plans to drill 15-18 wells in Q4 2022, continuing its expansion efforts.

GeoPark Limited (NYSE: GPRK) plans to fully redeem its 6.500% senior notes due 2024, amounting to $67,124,000. The redemption is set for September 21, 2022, with the notes being redeemed at 101.625% of the principal plus accrued interest. A notice will be delivered to the noteholders as per the Indenture's requirements. The company emphasizes that this press release does not constitute a securities offer or solicitation. Forward-looking statements are included, highlighting potential risks related to the expectations of the redemption process.

GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.127 per share, totaling $7.5 million, payable on September 8, 2022. This marks a 50% increase from the previous dividend of $0.082 per share declared on June 10, 2022. The Company aims to return value to shareholders while maintaining self-funded work programs and reducing debt.

GeoPark Limited (GPRK) reported robust financial results for 2Q2022, with consolidated oil and gas production up 14% to 38,940 boepd, and significant revenue growth of 88% to $311.2 million. Adjusted EBITDA surged by 140% to $144.8 million, and net income reached $67.9 million (or $1.13 per share). The company is committed to reducing debt, with cash in hand at $122.5 million and a net leverage ratio of 1.0x. GeoPark approved a 50% increase in quarterly dividends to $7.5 million, highlighting its focus on shareholder returns. Ongoing drilling and production tests aim to further enhance output.

GeoPark Limited (NYSE: GPRK) reported a 14% increase in consolidated oil and gas production for 2Q2022, reaching 38,940 boepd. Colombian production rose 16% to 34,253 boepd, driven by high performance in the Llanos 34 and CPO-5 blocks. The company is actively drilling in high-potential areas and expects to maintain guidance of 38,500-40,500 boepd for the full year. With a self-funded capital program of $200-220 million, GeoPark aims to generate $250-280 million in free cash flow. The company also made strides in emissions reduction and shareholder returns.

GeoPark Limited (NYSE: GPRK) announced the reelection of all existing Directors and the election of four new members to its Board during the recent Annual General Meeting. Reelected Directors secured an average of 77% of votes, while new Independent Directors Brian F. Maxted and Carlos E. Macellari received a 99% majority. The new executive Directors include CEO Andres Ocampo and General Director Marcela Vaca. Sylvia Escovar, the Independent Chair, emphasized that the new board members will enhance the company's strategy in navigating growth and energy transition challenges.