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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 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.
GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.082 per share, totaling $5.0 million, payable on March 31, 2022. This marks a significant increase from the previous dividend of $0.041 per share, reflecting a 300% rise since May 28, 2021. The Company emphasizes its commitment to delivering shareholder value while maintaining self-funded operations and reducing debt.
The Board of Directors of GeoPark Limited (NYSE: GPRK) has announced a leadership transition, appointing Andres Ocampo as the new CEO effective July 1, 2022. James F. Park will remain CEO temporarily to ensure a smooth transition and later serve as Vice Chair. Ocampo, who has been with GeoPark since 2010, has played a pivotal role in the company's growth strategy. The Board expressed confidence in Ocampo's leadership amid high oil prices and a robust work program, suggesting a positive outlook for the company.
GeoPark Limited (GPRK) reported robust financial results for Q4 and FY2021, achieving a 90% increase in revenue to $202.4 million. Full-year revenue rose 75% to $688.5 million, with a net profit of $61.1 million. The company successfully reduced debt by $105 million, with a net leverage of 1.9x. A significant capital expenditure program of $160-180 million is underway for 2022, with a target production increase of 5-10%. Shareholders will benefit from a doubled quarterly cash dividend and a discretionary share buyback program.
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