Geopark

GeoPark Signs New Offtake Agreement With Vitol for the Llanos 34 Block in Colombia

Retrieved on: 
fredag, maj 10, 2024
Oil, Gas, Energy, USD, History, Bank statement, Geopark, Growth

The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 Block (GeoPark operated, 45% WI).

Key Points: 
  • The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 Block (GeoPark operated, 45% WI).
  • The offtake agreement will start on July 1, 2024, for a minimum of 20 months and up to 36 months.
  • Funds committed by Vitol will be made available until June 30, 2025, subject to certain conditions.
  • Amounts drawn on this prepayment facility can be repaid through future oil deliveries or prepaid at any time without penalty.

GeoPark Publishes Its 2023 SPEED/Sustainability Report

Retrieved on: 
fredag, maj 3, 2024
Environment, Other Energy, Oil, Gas, Professional Services, Sustainability, Green Technology, Energy, Environmental, Social and Governance (ESG), Other Professional Services, ISO 14001:2015, Prosperity, Task force, Report, SPEED, Safety, Certification, TCFD, Heart, GRI, ISO, Culture, Corporate social responsibility, GHG, Community development, Bloomberg, Sustainability accounting, Sustainable Development Goals, Private sector, Geopark, IPIECA, Global warming potential, United Nations Global Compact, Letter, Renewable energy

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced the publication of its 2023 SPEED/Sustainability Report.

Key Points: 
  • GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced the publication of its 2023 SPEED/Sustainability Report.
  • The SPEED/Sustainability Report outlines the Company’s advancements in environmental, social and governance areas, highlighting the significant reduction in 2023 of the Company’s Greenhouse Gas (GHG) emissions intensity.
  • In the CEO letter presenting the Report, Andrés Ocampo, Chief Executive Officer of GeoPark, said: “GeoPark was built to be at the forefront of independent exploration and production companies in the region, with a focus on creating value and positively impacting all stakeholders.
  • Click here to access the 2023 SPEED/Sustainability Report.

Geopark Announces First Quarter 2024 Operational Update

Retrieved on: 
torsdag, april 25, 2024
Oil, Gas, Energy, Geopark, Barrel, Acquisition

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announces its operational update for the three-month period ended March 31, 2024 (“1Q2024”).

Key Points: 
  • GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announces its operational update for the three-month period ended March 31, 2024 (“1Q2024”).
  • 1Q2024 average oil and gas production of 35,473 boepd, reflected stable production in the Llanos 34 Block (GeoPark operated, 45% WI), impacted by localized blockades in the CPO-5 Block (GeoPark non-operated, 30% WI) in Colombia and maintenance activities in the Manati gas field (GeoPark non-operated, 10% WI) in Brazil
    Production in the Manati gas field has been temporarily suspended since mid-March 2024, when it was producing approximately 1,200 boepd, due to unscheduled maintenance activities, expected to be restored in May 2024
    GeoPark is currently producing over 38,000 boepd, mainly resulting from increased production in the Llanos 34 and CPO-5 Blocks in Colombia
    Two horizontal wells drilled in 1Q2024, including a first horizontal well in the Jacana field that initiated testing in April 2024
    Seven horizontal wells in aggregate have been put on production since the beginning of the horizontal well drilling program in early 2023, and are now producing 9,300 bopd gross
    In early April 2024, the Llanos 34 Block reached the highest production levels in the last 12 months, producing 56,000 - 57,000 bopd gross (compared to average production of 53,001 bopd gross in 1Q2024), due to successful development drilling and workover activities
    22 days of localized blockades in 1Q2024 affected production, which was fully restored in late March 2024
    The Indico 3 development well reached total depth in March 2024, initiated testing in mid-April 2024 and is currently producing 3,710 bopd gross of light oil with a 0.2% water cut
    Llanos 86 and Llanos 104 blocks (GeoPark operated, 50% WI):
    Acquired 650+ sq.
  • km of 3D seismic, with ongoing processing and interpretation activities, targeting to initiate exploration drilling in 1Q2025
    This is one of the three biggest onshore seismic acquisition projects in Colombia, expected to add further prospects to GeoPark’s organic exploration inventory
    Acquired 232 sq.
  • km1 of 3D seismic in the northeastern part of the block, which is now approximately 85% covered with 3D seismic
    Spudded the Cisne 1 exploration well in late April 2024, to continue delineating the combined structural/stratigraphic Paleocene play in the northern part of the block
    2024 Full-year average production of 35,500-39,000 boepd, as announced on February 21, 2024
    Drilling 12-13 gross wells in 2Q2024, targeting attractive conventional, short-cycle development, injector, appraisal and exploration projects
    The following table shows production figures for 1Q2024, as compared to 1Q2023:

GeoPark Announces Exclusive Negotiations for Unconventional Blocks in Vaca Muerta in Argentina

Retrieved on: 
torsdag, april 11, 2024
Oil, Gas, Energy, Table, Asset, NPV, Tax, Acquisition, Bank statement, Adjustment, Geopark

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation.

Key Points: 
  • Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation.
  • Oil and gas production figures included in this release are stated before the effect of royalties paid in kind, consumption and losses.
  • GeoPark uses certain terms in this press release, such as "PRMS Reserves" that SEC guidelines do not permit GeoPark from including in filings with the SEC.
  • 1Considers full-year 2024 pro forma adjusted EBITDA from new assets in Vaca Muerta.

GeoPark Announces the Filing of Its Form 20-F for Fiscal Year 2023

Retrieved on: 
torsdag, mars 28, 2024
Oil, Gas, Energy, Geopark, Bank statement, Security (finance)

GeoPark Limited ("GeoPark" or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, hereby announces the filing of its Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission (the “SEC”).

Key Points: 
  • GeoPark Limited ("GeoPark" or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, hereby announces the filing of its Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission (the “SEC”).
  • GeoPark’s Form 20-F can be accessed by visiting either the SEC’s website at www.sec.gov or the Invest with Us section of the Company’s website at www.geo-park.com .
  • In addition, shareholders may receive a hard copy of the Company’s audited financial statements, or its complete 2023 Form 20-F including audited financial statements, free of charge, by requesting a copy from the investor relations team.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20240327225143/en/

GeoPark Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
onsdag, mars 6, 2024
Energy, Professional Services, Environmental, Social and Governance (ESG), Oil, Gas, Carbon, ROCE, Geopark, Barrel, Share repurchase, Carbon Disclosure Project, ESG, CDP, Climate, Public expenditure, Hand, Environment, Eastern Standard

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator, and consolidator, reports its consolidated financial results for the three-month period ended December 31, 2023 (“Fourth Quarter” or “4Q2023”) and for the year ended December 31, 2023 (“Full Year” or “FY2023”).

Key Points: 
  • GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator, and consolidator, reports its consolidated financial results for the three-month period ended December 31, 2023 (“Fourth Quarter” or “4Q2023”) and for the year ended December 31, 2023 (“Full Year” or “FY2023”).
  • In 2023, GeoPark delivered $451.9 million Adjusted EBITDA, an EBITDA margin of 60%, and $111.1 million of net profit.
  • Improved operating results during 4Q2023 translated into $117.8 million Adjusted EBITDA for 4Q2023, the highest of 2023.
  • Andrés Ocampo, Chief Executive Officer of GeoPark, said: “The fourth quarter marked a strong finish to a challenging year on the production front.

GeoPark Announces 2P Reserve Replacement of 110%

Retrieved on: 
onsdag, februari 21, 2024
Energy, Other Energy, Oil, Gas, Geopark, Barrel, Tax, RLI, RRR, Probability, Possibility, Everette Lee DeGolyer, Airline

All reserves included in this release refer to GeoPark working interest before royalties paid in kind, except when specified.

Key Points: 
  • All reserves included in this release refer to GeoPark working interest before royalties paid in kind, except when specified.
  • During 2023, GeoPark added 14.0 mmboe of net 2P reserves, which after producing 12.7 mmboe resulted in 2P reserves of 115.1 mmboe, representing a 110% 2P Reserve Replacement Ratio (RRR).
  • The improved recovery from the horizontal well drilling campaign and waterflooding projects in the Llanos 34 Block (GeoPark operated, 45% WI) also added 2P reserves.
  • D&M estimated future development capital required to develop 1P reserves at $126 million, and $310 million to develop 2P reserves.

GeoPark Announces Fourth Quarter 2023 Operational Update

Retrieved on: 
onsdag, januari 17, 2024
Oil, Gas, Energy, Natural gas, API, Fell, Barrel, Geopark, Airline

Adjusted EBITDA from operations in Chile for the first nine months of 2023 totaled $3.6 million.

Key Points: 
  • Adjusted EBITDA from operations in Chile for the first nine months of 2023 totaled $3.6 million.
  • Average production from December 1, 2023, to December 31, 2023.
  • Based on GeoPark’s average market capitalization from December 1 to December 29, 2023.
  • Based on GeoPark’s average market capitalization from December 1 to December 29, 2023.

GeoPark Announces 2024 Work Program and Shareholder Return Guidelines

Retrieved on: 
onsdag, november 8, 2023
Energy, Other Energy, Oil, Gas, Adjustment, Samsung Galaxy Note 4, Tax, Public expenditure, EBITDA, Conference, Investment, Bank statement, Geopark, Date, Income tax, Webcast, Capital expenditure, Asset, Conference call, Depreciation, Eastern Standard, Natural gas, Rhode Island Works Program, Bookkeeping, Airline, Internet service provider, Risk management

7 Calculated as expected shareholder returns (dividends and buybacks), divided by GeoPark’s average market capitalization from October 1 to October 31, 2023.

Key Points: 
  • 7 Calculated as expected shareholder returns (dividends and buybacks), divided by GeoPark’s average market capitalization from October 1 to October 31, 2023.
  • The 2024 production guidance of 37,000-40,000 boepd (assuming no production from the 2024 exploration drilling program) includes 33,000-35,500 boepd in Colombia, 1,600-2,000 boepd in Ecuador, 1,000-1,300 boepd in Chile, and 1,000-1,200 boepd in Brazil.
  • Certain activities included in the 2024 work program are still subject to obtaining required joint venture, environmental, social or other regulatory approvals.
  • Reporting Date, Conference Call & Webcast for 3Q2023 financial results, and 2024 Work Program and Shareholder Return Framework
    In conjunction with the 3Q2023 results press release, GeoPark management will host a conference call on November 9, 2023, at 10:00 am (Eastern Standard Time) to discuss the 3Q2023 financial results and the Work Program and Shareholder Return Framework for 2024.

GeoPark Announces Quarterly Cash Dividend of $0.134 Per Share and Renewal of Share Repurchase Program

Retrieved on: 
onsdag, november 8, 2023
Oil, Gas, Energy, Adjustment, Public expenditure, Geopark, Share repurchase, NYSE, Holding company, Bank, Security (finance)

The Company is also targeting the return of 40-50% of its free cash flow1 to shareholders through a combination of base dividends and discretionary buybacks and/or variable dividends.

Key Points: 
  • The Company is also targeting the return of 40-50% of its free cash flow1 to shareholders through a combination of base dividends and discretionary buybacks and/or variable dividends.
  • 1Free cash flow is used here as Adjusted EBITDA less capital expenditures and mandatory interest payments, after applicable income taxes.
  • Certain amounts and percentages included in this press release have been rounded for ease of presentation.
  • Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management.