Welcome to our dedicated page for Geopark news (Ticker: GPRK), a resource for investors and traders seeking the latest updates and insights on Geopark stock.
GeoPark Limited (NYSE: GPRK) generates a steady stream of news as an independent energy company with over 20 years of operations across Latin America. Company updates frequently focus on its oil and gas exploration, development, and production activities in Colombia and Argentina, as well as broader portfolio and capital allocation decisions.
Readers following GeoPark news can expect detailed announcements on its strategic plan, including the balance between its core Colombian production base and its growing unconventional position in Argentina’s Vaca Muerta formation. Releases cover operational updates on key blocks such as Llanos 34, Llanos 123, and CPO-5 in Colombia, and the Loma Jarillosa Este and Puesto Silva Oeste blocks in Neuquén Province, Argentina.
News items also include quarterly financial and operational results, reserves assessments certified under PRMS methodology, and guidance on production, capital expenditures, and Adjusted EBITDA under various Brent price scenarios. Corporate developments, such as the completion of acquisitions, debt repurchase programs, dividend policy changes, and Board decisions regarding unsolicited acquisition proposals, are disclosed through press releases and accompanying Form 6-K filings.
This page aggregates GeoPark-related headlines, including operational updates, reserves reports, strategic transactions, and governance matters. Investors and analysts can use it to track how the company executes its two-fold strategy in Colombia and Argentina, monitors costs, manages hedging, and responds to corporate interest from third parties. For ongoing context around GPRK, consider revisiting this news feed regularly to review the latest company-issued information.
GeoPark Limited (GPRK) announced an independent assessment of its oil and gas reserves as of December 31, 2022, revealing significant figures. The company holds certified 2P reserves of 110 million BOE, with a net present value (after tax) of $1.6 billion. The 1P reserves total 69.9 million BOE with an NPV10 after tax of $1.1 billion. The company expects to generate an adjusted EBITDA of $510-580 million in 2023 and a free cash flow of $120-140 million. Looking forward, GeoPark aims to return 40-50% of free cash flow to shareholders while continuing to expand production and drilling operations.
GeoPark Limited (NYSE: GPRK) reports a 7% increase in average oil and gas production to 38,433 boepd for 4Q2022, achieving annual guidance. Despite production delays at CPO-5 and reduced gas demand at Manati, annual production reached 38,620 boepd. New development wells in the CPO-5 block tested over 11,000 bopd, expected to resume production soon. The company plans a 2023 capital expenditure of $200-220 million with anticipated free cash flow of $120-140 million. A quarterly dividend of $0.127 per share was paid, indicating strong shareholder returns.
GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of
GeoPark Limited (NYSE: GPRK) has announced its ambitious 2023 work program focused on low-risk, high-potential exploration and increased shareholder returns. The company is targeting an average production of 39,500-41,500 boepd with a capital expenditure of $200-220 million. Adjusted EBITDA is expected to reach $510-580 million, doubling total capital expenditures. Shareholder returns are projected to be 40-50% of free cash flow, amid a backdrop of reduced gross debt by $170 million and $50 million in distributions since January 2022. A tax reform in Colombia may impact future cash flows.
GeoPark Limited (NYSE: GPRK) reported robust third-quarter 2022 results with a record net profit of $73.4 million and revenue growth of 48% to $258.2 million. Oil and gas production increased by 8% year-over-year, averaging 38,396 boepd. The company anticipates self-funding its 2023 capital expenditures of $200-220 million, targeting 39,500-41,500 boepd. A quarterly dividend of $0.127 per share and a renewed share buyback program demonstrate strong shareholder returns. However, localized blockades may have impacted production in the Llanos basin, reducing net production by approximately 230 bopd.
GeoPark Limited (NYSE: GPRK) reports an 8% increase in consolidated oil and gas production for Q3 2022, totaling 38,396 boepd, with a current production rate of approximately 40,000 boepd. The company expects to meet its full-year target of 38,500-40,500 boepd. They redeemed $67 million in debt and generated $250-280 million in free cash flow, yielding a free cash flow yield of 33-37%. A quarterly dividend of $0.127 per share was paid, representing a 4% yield. GeoPark plans to drill 15-18 wells in Q4 2022, continuing its expansion efforts.
GeoPark Limited (NYSE: GPRK) plans to fully redeem its 6.500% senior notes due 2024, amounting to $67,124,000. The redemption is set for September 21, 2022, with the notes being redeemed at 101.625% of the principal plus accrued interest. A notice will be delivered to the noteholders as per the Indenture's requirements. The company emphasizes that this press release does not constitute a securities offer or solicitation. Forward-looking statements are included, highlighting potential risks related to the expectations of the redemption process.
GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.127 per share, totaling $7.5 million, payable on September 8, 2022. This marks a 50% increase from the previous dividend of $0.082 per share declared on June 10, 2022. The Company aims to return value to shareholders while maintaining self-funded work programs and reducing debt.
GeoPark Limited (GPRK) reported robust financial results for 2Q2022, with consolidated oil and gas production up 14% to 38,940 boepd, and significant revenue growth of 88% to $311.2 million. Adjusted EBITDA surged by 140% to $144.8 million, and net income reached $67.9 million (or $1.13 per share). The company is committed to reducing debt, with cash in hand at $122.5 million and a net leverage ratio of 1.0x. GeoPark approved a 50% increase in quarterly dividends to $7.5 million, highlighting its focus on shareholder returns. Ongoing drilling and production tests aim to further enhance output.
GeoPark Limited (NYSE: GPRK) reported a 14% increase in consolidated oil and gas production for 2Q2022, reaching 38,940 boepd. Colombian production rose 16% to 34,253 boepd, driven by high performance in the Llanos 34 and CPO-5 blocks. The company is actively drilling in high-potential areas and expects to maintain guidance of 38,500-40,500 boepd for the full year. With a self-funded capital program of $200-220 million, GeoPark aims to generate $250-280 million in free cash flow. The company also made strides in emissions reduction and shareholder returns.
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