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 (NYSE: GPRK) announced the reelection of all existing Directors and the election of four new members to its Board during the recent Annual General Meeting. Reelected Directors secured an average of 77% of votes, while new Independent Directors Brian F. Maxted and Carlos E. Macellari received a 99% majority. The new executive Directors include CEO Andres Ocampo and General Director Marcela Vaca. Sylvia Escovar, the Independent Chair, emphasized that the new board members will enhance the company's strategy in navigating growth and energy transition challenges.
GeoPark Limited (NYSE: GPRK) reported strong production growth, with consolidated oil and gas production reaching 38,726 boepd in April-May 2022, a 2% increase from Q1 2022. Key developments include successful drilling in the CPO-5 block, resulting in a gross production boost of 33%. The company is expanding exploration activities in Colombia’s Llanos Basin with several exploration wells and aims for a self-funded capital expenditure of $200-220 million for drilling 50-55 gross wells. By mid-2022, GeoPark expects to generate $250-280 million in free cash flow.
GeoPark Limited (NYSE: GPRK) announced the receipt of consents for its Consent Solicitation regarding its 5.500% Senior Notes due 2027. This follows a Consent Solicitation Statement issued on June 8, 2022, aimed at amending the indenture governing the notes. The proposed changes aim to address the impact of negative market conditions on the Company’s financial flexibility. The Company expects to execute a supplemental indenture on June 21, 2022, and will offer a Consent Fee of $10.00 per $1,000 principal amount to eligible noteholders. The fee will be paid on June 27, 2022.
GeoPark Limited (NYSE: GPRK) has extended the expiration date for its consent solicitation regarding its 5.500% Senior Notes due 2027, now set to expire at 5:00 p.m. on June 17, 2022. The company is proposing amendments to improve financial flexibility due to adverse market conditions impacting crude oil prices. Additionally, the consent fee for the 2027 Notes has been increased to $10.00 per $1,000 principal amount. The solicitation for the 6.500% Senior Notes due 2024 has been withdrawn, voiding prior consents for those notes.
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.
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