Latest news with #GeoPark
Business Wire
16-07-2025
- Business
- Business Wire
GeoPark Announces Second Quarter 2025 Operational Update
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited ('GeoPark' or the 'Company') (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, announces its operational update for the three-month period ended June 30, 2025 ('2Q2025'). Oil and Gas Production and Operations Year-to-date consolidated average oil and gas production of 28,223 boepd 2Q2025 consolidated average oil and gas production of 27,380 boepd, reflecting solid delivery from core operated and non-operated assets Production was 6% lower than 1Q2025, mainly explained by the divestment of the Llanos 32 Block (GeoPark non-operated, 12.5% WI), as well as temporary blockades in the CPO-5 Block (GeoPark non-operated, 30% WI), which led to 16 days of shut-in production The infill drilling campaign in the Llanos 34 Block (GeoPark operated, 45% WI) experienced delays, which were partially offset by production recovery through base management, waterflooding, and workovers A total of 5 wells were drilled and completed in 2Q2025, bringing the year-to-date total to 10 wells An exploration discovery at the Currucutu-1 well in the Llanos 123 Block (GeoPark operated, 50% WI), produced an initial 1,360 bopd gross Llanos 34 Block: Managing Production through Interventions and Cost Efficiency 2Q2025 average production of 17,605 boepd net (39,122 boepd gross), down 3% from 1Q2025 and in line with expected decline rates Waterflooding projects contributed approximately 6,500 boepd gross (17% of gross production), exceeding plan by 27% Workover campaign focused on water shutoff delivered 2,100 boepd gross and reduced water production by 23,000 bwpd, exceeding plan by 4% New-generation rig significantly improved drilling efficiency, completing six wells and one sidetrack with 23% faster operations and 30% cost savings compared to the 2024 drilling campaign, lowering average drilling cost from $245/ft to $171/ft. Mobilization time between pads was reduced from 7 days to 18 hours The 1H2025 infill drilling campaign was successfully completed in the Tigui area, with four wells currently producing approximately 3,000 bopd gross, exceeding initial expectations and confirming strong reservoir performance CPO-5 Block: Production Stability Amid Operational Disruption 2Q2025 average production reached 6,100 bopd net (20,333 bopd gross), down 8% from 1Q2025, primarily driven by the higher-than-anticipated downtime due to 16 days of shut-ins in the Indico field. Despite the impact, production performance remained stable with no water breakthrough and as of the publishing of this report the field is operating normally 3D seismic interpretation advanced, with new prospects identified and incorporated into the portfolio. Integration with existing surveys is currently underway Llanos Exploration: Llanos 123 Discoveries Drive Production 2Q2025 average production increased to 2,150 boepd net (4,300 boepd gross), driven by 2,008 boepd net in the Llanos 123 Block (GeoPark operated, 50% WI) Llanos 123 Block: Currucutu-1 exploration well was drilled and completed in April 2025, with an initial production of 1,360 bopd. The well is currently producing approximately 500 bopd Toritos Sur-3 well was drilled and completed during June 2025 with initial production tests of 900 bopd from the Mirador Formation (exploration target) and 630 bopd from the Barco formation (development target). An extended production test is planned for the Lower Mirador to further assess its potential Upcoming Catalysts 3Q2025 Drilling 2-4 gross wells in Colombia, targeting appraisal and exploration projects Key projects include: Llanos 123 Block: Drilling 1-2 appraisal and exploration wells Llanos 104 Block (GeoPark operated, 50% WI): Drilling 1-2 exploration wells Breakdown of Quarterly Production by Country The following table shows production figures for 2Q2025, as compared to 2Q2024: a) Includes royalties and other economic rights paid in kind in Colombia for approximately 4,236 bopd in 2Q2025. No royalties were paid in kind in Ecuador or Brazil. Production in Ecuador is reported before the Government's production share of approximately 327 bopd. Expand Quarterly Production (boepd) 2Q2025 1Q2025 4Q2024 3Q2024 2Q2024 Colombia 25,868 27,610 29,740 31,429 33,956 Ecuador 1,281 1,466 1,749 1,786 1,652 Brazil 231 - - - - Total a 27,380 29,076 31,489 33,215 35,608 Oil 27,151 28,972 31,354 33,091 35,504 Gas 229 104 135 124 104 Expand a) In Colombia, production includes royalties paid in kind, and in Ecuador it is shown before the Government's production share. Expand Reporting Date for 2Q2025 Results Release, Conference Call and Webcast GeoPark will report its 2Q2025 financial results on Wednesday, August 6, 2025, after market close. GeoPark management will host a conference call on Thursday, August 7, 2025, at 10:00 am (Eastern Daylight Time) to discuss the 2Q2025 financial results. To listen to the call, participants can access the webcast located in the Invest with Us section of the Company's website at or by clicking below: Interested parties can join the conference call by using the following dial-in information: United States Participants: +1 404-975-4839 Global Dial-In Numbers: Passcode: 553033 Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast. An archive of the webcast replay will be made available in the Invest with Us section of the Company's website at after the conclusion of the live call. NOTICE Additional information about GeoPark can be found in the 'Invest with Us' section on the website at Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentages included in this press release have not in all cases been calculated on the basis of such rounded amounts, but on the basis of such amounts prior to rounding. For this reason, certain percentages in this press release may vary from those obtained by performing the same calculations on the basis of the amounts in the financial statements. Similarly, certain other amounts included in this press release may not sum due to rounding. CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ''anticipate,'' ''believe,'' ''could,'' ''expect,'' ''should,'' ''plan,'' ''intend,'' ''will,'' ''estimate'' and ''potential,'' among others. Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including, drilling campaign, reductions in drilling completion time and costs, production guidance, and cost efficiency savings. Forward-looking statements are based on management's beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC). Oil and gas production figures included in this release are stated before the effect of royalties paid in kind, consumption and losses. Annual production per day is obtained by dividing total production by 365 days.
Bloomberg
04-06-2025
- Business
- Bloomberg
GeoPark's Shareholder Plan Creates Opening to Thwart Hostile Bid
Latin American oil and gas producer GeoPark looks to be making moves to defend itself form a hostile takeover after a rival energy firm took a large stake in the company. In a shareholder rights plan announced on Tuesday, Bogotá-based GeoPark adopted a mechanism for rights to become exercisable if an entity or person acquires ownership of 12% or more in the company. The move follows a recent SEC filing by Pampa Energy Inc., which reported a 10.17% holding in GeoPark.
Yahoo
03-06-2025
- Business
- Yahoo
GeoPark Adopts Limited-Duration Shareholder Rights Plan
BOGOTA, Colombia, June 03, 2025--(BUSINESS WIRE)--GeoPark Limited ("GeoPark" or the "Company") (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, today announced that its Board of Directors (the "Board") has unanimously adopted a limited-duration shareholder rights plan (the "Rights Plan"), effective immediately and that will expire in 364 days. The Company's Board, in consultation with its advisors, adopted the Rights Plan to protect value for GeoPark and all its stockholders given the unusually rapid and significant accumulation of the Company's common stock by a single stockholder. The Rights Plan is similar to plans adopted by other publicly traded companies and is intended to protect the long-term interests of GeoPark's shareholders and maximize the value of their investment. The Rights Plan is designed to reduce the likelihood that any shareholder gains undue influence or control of the Company through open market accumulation, without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interest of the Company and all of its shareholders. Key Terms of the Rights Plan Under the Rights Plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 12% or more of GeoPark's outstanding common shares (including derivatives) in a transaction not approved by the Board. In the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights will become void and will not be exercisable) to purchase, at the then-current exercise price, additional common shares having a then-current market value of twice the exercise price of the right. Additional Information Goldman Sachs & Co. LLC is serving as GeoPark's financial advisor and Davis Polk & Wardwell LLP is serving as legal counsel. NOTICE Additional information about GeoPark can be found in the "Invest with Us" section on the website at CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ''anticipate,'' ''believe'', ''could,'' ''expect,'' ''should,'' ''plan,'' ''intend,'' ''will,'' ''estimate'' and ''potential,'' among others. Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters including the intended benefits of the Company's Rights Plan. Forward-looking statements are based on management's beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see the Company's filings with the U.S. Securities and Exchange Commission (SEC). View source version on Contacts For further information, please contact: INVESTOR RELATIONS: Maria Catalina Escobar Shareholder Value and Capital Markets Directormescobar@ Miguel Bello Investor Relations Officermbello@ Maria Alejandra Velez Investor Relations Leadermvelez@ MEDIA: Communications Departmentcommunications@ Kelsey Markovich / Ben SpicehandlerFGS GlobalGeoPark@
Business Wire
03-06-2025
- Business
- Business Wire
GeoPark Adopts Limited-Duration Shareholder Rights Plan
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited ('GeoPark' or the 'Company') (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, today announced that its Board of Directors (the 'Board') has unanimously adopted a limited-duration shareholder rights plan (the "Rights Plan"), effective immediately and that will expire in 364 days. The Company's Board, in consultation with its advisors, adopted the Rights Plan to protect value for GeoPark and all its stockholders given the unusually rapid and significant accumulation of the Company's common stock by a single stockholder. The Rights Plan is similar to plans adopted by other publicly traded companies and is intended to protect the long-term interests of GeoPark's shareholders and maximize the value of their investment. The Rights Plan is designed to reduce the likelihood that any shareholder gains undue influence or control of the Company through open market accumulation, without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interest of the Company and all of its shareholders. Key Terms of the Rights Plan Under the Rights Plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 12% or more of GeoPark's outstanding common shares (including derivatives) in a transaction not approved by the Board. In the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights will become void and will not be exercisable) to purchase, at the then-current exercise price, additional common shares having a then-current market value of twice the exercise price of the right. Additional Information Goldman Sachs & Co. LLC is serving as GeoPark's financial advisor and Davis Polk & Wardwell LLP is serving as legal counsel. NOTICE Additional information about GeoPark can be found in the 'Invest with Us' section on the website at CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ''anticipate,'' ''believe'', ''could,'' ''expect,'' ''should,'' ''plan,'' ''intend,'' ''will,'' ''estimate'' and ''potential,'' among others. Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters including the intended benefits of the Company's Rights Plan. Forward-looking statements are based on management's beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see the Company's filings with the U.S. Securities and Exchange Commission (SEC).
Yahoo
22-05-2025
- Business
- Yahoo
GeoPark Exits Vaca Muerta Deal, Focuses on Strategic Growth Plans
GeoPark Limited GPRK recently announced the termination of its previously disclosed agreement with Phoenix Global Resources, which involved acquiring a non-operated working interest in four unconventional blocks in Argentina's Vaca Muerta. The deal, governed by a FarmOut Agreement, included an 'Outside Date' clause that allowed either party to withdraw by May 13, 2025. Phoenix exercised this option, leading to the transaction's cancellation. Despite the withdrawal, GeoPark remains undeterred and focused on its long-term strategy built around sustainable, profitable growth in Latin America's energy sector. In April 2024, GeoPark made a strategic move by offering to buy a non-operated working interest in Argentina's Neuquen Basin's Vaca Muerta Formation. The acquisition was expected to close in the third quarter of 2024, pending regulatory approval and would add over 5,000 barrels of oil equivalent per day to GeoPark's production. The $200 million deal, with an additional $110-$120 million earmarked for exploration over two years, was decided to be funded through cash, credit facilities and new financing while maintaining a net debt-to-adjusted EBITDA ratio below 1.1x. GeoPark reaffirmed its commitment to its "North Star" strategic pillars — developing big assets in prolific basins with a disciplined and dependable approach. With $330 million in cash, a net leverage ratio under 1.0x and a hedging program covering 87% of its 2025 volumes, the company is well-positioned to pursue other strategic avenues. GeoPark continues to strengthen its core by maximizing returns from high-value projects in its current portfolio, pursuing inorganic growth through carefully evaluated opportunities within its core geographies and maintaining strategic flexibility, considering options such as share buybacks, debt reduction or dividends based on prevailing market conditions. Hamilton, Bermuda-based GeoPark is an explorer, operator and consolidator of oil and gas. The company operates primarily in Chile, Colombia, Brazil and Argentina. Currently, GPRK has a Zacks Rank #5 (Strong Sell). Investors interested in the energy sector might look at some top-ranked stocks like Prairie Operating Co. PROP, Global Partners LP GLP and Expand Energy Corporation EXE. While Prairie Operating and Global Partners currently sport a Zacks Rank #1 (Strong Buy) each, Expand Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Houston-based Prairie Operating is an independent energy company engaged in the development and acquisition of proven, producing oil and natural gas resources principally in the United States. The Zacks Consensus Estimate for PROP's 2025 earnings indicates 389.05% year-over-year growth. Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. Global Partners owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for GLP's 2025 earnings indicates 17.84% year-over-year growth. Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. The Zacks Consensus Estimate for EXE's 2025 earnings indicates 444.68% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Global Partners LP (GLP) : Free Stock Analysis Report Geopark Ltd (GPRK) : Free Stock Analysis Report Prairie Operating Co. (PROP) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
