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GeoPark Limited (symbol: GPRK) is a leading independent Latin American oil and gas exploration and production company. The firm has established operations and growth platforms in multiple countries, including Colombia, Chile, Brazil, Argentina, Peru, and Ecuador. GeoPark's primary revenue sources are the sale of crude oil, condensate, and natural gas, net of value-added tax and sales discounts.
GeoPark is renowned for its experienced management and technical teams, which have enabled consistent year-to-year growth in production and reserves. The company boasts an attractive portfolio of high-potential oil and gas assets and maintains a strong balance sheet supported by consistent cash flow.
The company takes a conservative, risk-balanced approach to business and actively explores new project opportunities across Latin America. GeoPark has developed an extensive network of partners and capital to fuel its growth, alongside an in-house culture focused on commitment, care, and excellence.
Recently, GeoPark announced the preliminary and final results of its tender offer to purchase its common shares. The company accepted 4,369,181 shares at a final purchase price of U.S.$10.00 per share, an endeavor that highlights its robust financial health and strategic focus on maximizing shareholder value. The tendered shares represent approximately 7.87% of GeoPark's issued and outstanding common shares, resulting in a total cost of around U.S.$43.7 million.
The Dealer Manager for the offer was BTG Pactual US Capital, LLC, and Georgeson LLC acted as the Information Agent. Computershare Trust Company, N.A. served as the Depositary. This tender offer exemplifies GeoPark's ongoing dedication to optimizing its capital structure and delivering value to its shareholders.
GeoPark Limited (NYSE: GPRK) announced the pricing of $150 million in 5.500% senior notes due 2027, offered at an issue price of 101.875% with a yield to maturity of 5.117%. This issuance is in addition to a previously issued $350 million of similar notes. The proceeds will be used to purchase part of its outstanding 6.500% Senior Notes due 2024 through a tender offer and for general corporate purposes. The settlement is expected on April 23, 2021, pending customary closing conditions.
GeoPark Limited (GPRK) announced early tender results for its tender offer to purchase up to $255 million of its 6.500% Senior Notes due 2024. As of April 19, 2021, it received valid tenders and consents totaling $334.23 million, surpassing the maximum amount. This secures the necessary consents for proposed amendments to the indenture, expected to be executed shortly. Holders of validly tendered notes will receive a total consideration of $1,050 per $1,000 principal amount. The tender offer is set to expire on May 3, 2021.
GeoPark Limited (NYSE: GPRK) announced a private placement of senior notes amounting to a reopening of $350 million of 5.500% Notes due 2027. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons per Regulation S. Proceeds will fund a cash tender offer for part of its 6.500% Senior Notes due 2024 and for general corporate purposes. The timing and terms depend on market conditions. This press release does not constitute an offer or solicitation in any jurisdiction where it would violate laws.
GeoPark Limited (NYSE: GPRK) reported its operational update for 1Q2021, revealing a consolidated oil and gas production of 38,131 boepd, down 17% from 1Q2020. Major highlights include a 69% production increase in the CPO-5 block, despite a 19% drop in Colombia's overall output. Proven reserves stood at 58.5 mmboe, with a full-year work program budget of $130-150 million aimed at achieving average production of 41,000-43,000 boepd. The company has a strong balance sheet, with $187 million in cash and an ongoing share buyback program.
GeoPark Limited (NYSE: GPRK) announced a tender offer to purchase up to $255 million of its 6.500% Senior Notes due 2024. The offer includes a Consent Solicitation for amendments to the related indenture. The tender offer expires on May 3, 2021, with early tender considerations due by April 19, 2021. Each note holder validly tendering will receive $1,050 in total consideration for each $1,000 principal amount. The amendments aim to align covenants with other debt notes, enhancing operational efficiency.
GeoPark Limited (NYSE: GPRK), a key player in Latin America's oil and gas sector, has filed its Form 20-F for the fiscal year ending December 31, 2020, with the SEC. Shareholders can access this document via the SEC's website or GeoPark's Investor Support section. The company offers hard copies of its audited financial statements upon request. This filing is crucial for transparency and regulatory compliance.
GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.0205 per share, amounting to $1.25 million in total, payable on April 13, 2021. Shareholders of record by March 31, 2021 will be eligible for this dividend. The company aims to ensure strong operational and financial performance along with free cash flow generation while focusing on returning value to its shareholders.
GeoPark Limited (NYSE: GPRK) reported its Q4 2020 and FY2020 financial results, marking an annual average production of 40,192 boepd. Revenue for Q4 was $106.7 million, a 33% decline from the previous year, with a full-year total of $393.7 million. Despite reporting a net loss of $233.0 million for the year, the company achieved free cash flow generation of $77.1 million. GeoPark has a robust cash position of $201.9 million and plans to expand its 2021 work program to $130-150 million, targeting production growth and cost efficiencies.
GeoPark Limited (GPRK) announced its independent oil and gas reserves assessment as of December 31, 2020, certified by DeGolyer and MacNaughton. Key highlights include:
- Proven developed (PD) reserves in Colombia increased by 13% to 48.0 mmboe.
- Proven plus probable (2P) reserves rose by 9% to 141.0 mmboe.
- Net present value (NPV10) of 2P reserves grew 3% to $2.1 billion.
- Reserve replacement ratios achieved 146% for PD and 199% for 2P.
The company emphasizes its low-cost development opportunities and a significant exploration potential in Colombia.
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