Geopark Ltd Stock Price, News & Analysis

GeoPark Limited (NYSE: GPRK) announced the receipt of consents for its Consent Solicitation regarding its 5.500% Senior Notes due 2027. This follows a Consent Solicitation Statement issued on June 8, 2022, aimed at amending the indenture governing the notes. The proposed changes aim to address the impact of negative market conditions on the Company’s financial flexibility. The Company expects to execute a supplemental indenture on June 21, 2022, and will offer a Consent Fee of $10.00 per $1,000 principal amount to eligible noteholders. The fee will be paid on June 27, 2022.

GeoPark Limited (NYSE: GPRK) has extended the expiration date for its consent solicitation regarding its 5.500% Senior Notes due 2027, now set to expire at 5:00 p.m. on June 17, 2022. The company is proposing amendments to improve financial flexibility due to adverse market conditions impacting crude oil prices. Additionally, the consent fee for the 2027 Notes has been increased to $10.00 per $1,000 principal amount. The solicitation for the 6.500% Senior Notes due 2024 has been withdrawn, voiding prior consents for those notes.

GeoPark Limited (NYSE: GPRK) announced consent solicitations for its 6.500% Senior Notes due 2024 and 5.500% Senior Notes due 2027 to address adverse market conditions affecting financial flexibility. The proposed amendments aim to increase restricted payments capacity from approximately $10.2 million to about $59.7 million post-amendment. The consent solicitations commenced on June 8, 2022, and will expire on June 15, 2022. Cash payments of $2.50 and $5.00 per $1,000 principal will be provided to consenting holders of the 2024 and 2027 Notes, respectively.

GeoPark Limited (NYSE: GPRK) announced a quarterly cash dividend of $0.082 per share, totaling $5.0 million, payable on June 10, 2022, to shareholders of record by May 26, 2022. The company emphasizes its commitment to enhancing shareholder value while implementing self-funded programs and reducing debt.

GeoPark Limited (NYSE: GPRK) announced its intention to redeem $45 million of its 6.500% senior notes due 2024. The redemption will occur at a price of 103.250% of the principal amount, plus any accrued interest. A notice will be sent to the noteholders as per the indenture's guidelines. The anticipated redemption date is May 26, 2022. This announcement does not represent an offer to sell or purchase any securities.

GeoPark Limited (GPRK), a leading independent oil and gas company, reported impressive 1Q2022 financial results with a 70% revenue increase to $249.2 million. Production rose by 6% to 38,626 boepd, driven by strong performance in Colombia. Notably, adjusted EBITDA surged 84% to $122.6 million, while cash flow from operations experienced a remarkable 147% increase, amounting to $89.7 million. The company successfully reduced debt, with cash holdings climbing to $114.1 million. Shareholder returns in 1Q2022 reached $7.9 million, boosted by a new quarterly cash dividend.

GeoPark Limited (GPRK), a leading independent oil and gas explorer, reported its operational update for Q1 2022, showing consolidated production of 38,626 boepd, a 6% increase after adjusting for divestments. Key highlights include the successful addition of 13 new productive wells, with notable production from the Indico oil field in Colombia. The company also expanded its acreage and reduced debt by repurchasing $28.2 million of 2024 Notes. Free cash flow is estimated at $260-280 million based on Brent prices, supporting shareholder returns.

GeoPark Limited (NYSE: GPRK) has filed its Form 20-F for the fiscal year ending December 31, 2021, with the Securities and Exchange Commission (SEC). Investors can access the document on the SEC's website or through the Investor Support section of GeoPark's official site. Shareholders are also invited to request a hard copy of the audited financial statements, including the complete Form 20-F, at no charge. This filing reflects GeoPark's commitment to transparency and investor engagement.

GeoPark Limited (NYSE: GPRK) announced a successful hydrocarbon discovery in the Perico block in Ecuador, with the Tui 1 well producing approximately 1,240 barrels of oil per day. This follows the earlier success at the Jandaya oil field. Combined production from both fields is around 2,000 barrels per day. The company plans to continue exploration activities and development drilling in 2022, budgeting $160-180 million for capital expenditures. These efforts reflect GeoPark’s strategy in the promising Oriente basin, aiming for rapid production and growth.