GeoPark Announces 2P Reserve Replacement of 110%
All reserves included in this release refer to GeoPark working interest before royalties paid in kind, except when specified.
- 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.