Current GPRK Stock Info

GeoPark Limited (ticker: GPRK), an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, issued an operational update.

GeoPark’s 2018 work program and budget is $100-$110 million. The company is targeting the drilling of 30-plus wells, representing a 15-20% production increase over 2017 average levels. The projects are expected to be fully funded by cash flow from operations, the company said in a statement.

GeoPark Issues Operational Update

GeoPark Acreage Map, Dec. 2017

Fourth quarter highlights

  • Consolidated oil and gas production up 30% to 30,654 BOEPD (up 8% compared to 3Q2017)
  • Oil production increased by 35% to 25,341 BOPD (up 9% compared to 3Q2017)
  • Colombian oil production increased by 39% to 24,293 (up 9% compared to 3Q2017)
  • Annual 2017 average production up 23% to 27,586 BOEPD, exceeding guidance of 26,500-27,500 BOEPD
  • Record 2017 exit production of 31,977 BOEPD

Fourth quarter drilling results and future plans


GeoPark’s drilling results drove gross production to over 54,000 BOPD in the Llanos 34 block (GeoPark operated, 45% WI) with the addition of 7,900 BOPD gross from new wells. The Tigana Norte 3 and 4 appraisal wells and Tigana Sur Oeste 2, 3 and 7 development wells were drilled, tested and put on production. Additionally, the Jacana 13 and 17 appraisal wells were completed, tested and put on production.

As for 1Q2018, six wells are to be drilled during the quarter to continue developing the Tigana/Jacana oil fields. The drilling will also explore new prospects, two in Tigana Norte, three in Jacana and one exploration well, the Chachalaca Sur 1.

GeoPark Issues Operational Update

GeoPark Colombia Map and Highlights, Dec. 2017


The Jet 1 exploration well in the Potiguar basin is under stimulation and testing. In 1Q2018 the company has one exploration well in POT-T-619 block (GeoPark operated, 100% WI) in the Potiguar basin.


The Uaken 1 exploration well is testing a new low-cost shallow gas play and is currently under production test.

Breakdown of quarterly production by country

The following table(s) shows production figures for 4Q2017, as compared to 4Q2016:

4Q2017 4Q2016
% Chg.
Colombia 24,378 24,293 509 17,535 39%
Brazil 3,328 44 19,704 2,535 31%
Chile 2,932 988 11,663 3,523 -17%
Argentina 16 16
Total 30,654 25,341 31,876 23,593 30%


a) Includes royalties paid in kind in Colombia for approximately 881 BOPD in 4Q2017. No royalties were paid in kind in Chile, Brazil or Argentina.

Quarterly Production Evolution

(BOEPD) 4Q2016 1Q2017 2Q2017 3Q2017 4Q2017
Colombia 17,535 19,330 21,015 22,367 24,378
Brazil 2,535 2,499 2,658 3,141 3,328
Chile 3,523 3,351 2,450 2,817 2,932
Argentina 16
Total 23,593 25,180 26,123 28,325 30,654
Oil 18,798 20,487 21,930 23,237 25,341
Gas 4,795 4,693 4,193 5,088 5,313


New acreage added

In Colombia, GeoPark has added new exploration acreage adjacent to the Llanos 34 block. At this time, the company has not released specific acreage numbers however.

GeoPark has also acquired some assets in Argentina. The company has 100% WI and operatorship in Aguada Baguales, El Porvenir and Puesto Touquents blocks, with current production of 2,700 BOEPD (70% light oil, 30% gas).

EnerCom Dallas conference presenter

GeoPark’s senior management team will be presenting at the EnerCom Dallas investment conference, Feb. 21-22 at the Tower Club in downtown Dallas. Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now.

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