Production up 23% YOY – conventional plays
By Richard Rostad, analyst, Oil & Gas 360

GeoPark (ticker: GPRK) announced preliminary first quarter metrics today, providing an international counterpoint to the chorus of U.S. shale.

GeoPark reports it produced a record net 39.6 MBOEPD, up 23% year-over-year. The vast majority of this volume is oil, as gas only accounts for 14% of company output. GeoPark’s Colombian assets have shown the strongest production growth over the past year, adding 22%, or 5.7 MBOEPD.

Colombia is the focus of much of GeoPark’s drilling program, as the company’s Llanos 34 block saw five new wells come online in Q1. The company plans to drill six Llanos development wells in Q2, with more in future quarters. ...

Legal Notice