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Geopark finds success in Latin America

While there are scores of independent E&P’s in the United States, Latin America has always been the domain of supermajors and NOC’s. As the only independent pan-regional Latin American E&P, GeoPark (ticker: GPRK) aims to change all that. Founded in 2002, GeoPark has grown over the last 15 years to hold 6 million gross acres in Colombia, Peru, Brazil, Chile, and Argentina.

Latin America offers oil and gas developers unique advantages

Activity in Latin America can be very different from activity in the U.S. There can be large, proven basins with very little activity or competition. It is far easier to acquire positions of scale in these conditions than it is to do so in, for example, the Permian. This dearth of competition is not the result of bad opportunities, though. Infrastructure and service companies are present to support development, and the regulatory environment is relatively stable.

The assets in the region are world class. The Neuquén basin, where GeoPark owns 1.85 million gross acres, is one of the most promising shale plays in the world. Tremendous amounts of oil and gas in place combined with favorable governmental attitudes toward development have made the Neuquen basin very attractive. It is one of the few international shale plays that has seen successful development, and GeoPark is well positioned to take advantage of this opportunity.

A Latin American Independent E&P Heads to Dallas

Source: GeoPark

GeoPark’s Colombian assets also show significant potential. GeoPark owns just over 1.0 million gross acres in the country, primarily focused on the Llanos basin in eastern central Colombia. The company is taking advantage of what they term a “new field type” to create production. The company has grown from zero production in Colombia to 40 MBOEPD in just 4 years, and it is taking advantage of very attractive economics.

“Our F&D costs are less than $1.50,” GeoPark CEO James F. Park told Oil & Gas 360®. “Our drilling costs are $3 million. Recovery of the wells are 2-3 million bbl per well, meaning the wells payout in 6 months, even at a $40 oil price.”

A Latin American Independent E&P Heads to Dallas

Source: GeoPark

GeoPark’s other assets include almost 1.0 million gross acres in southern Chile, about 250,000 gross acres in eastern Brazil, and 1.9 million gross acres in northern Peru.

GeoPark aims for 300% total production growth

GeoPark is currently targeting 100 MBOEPD of production. It is currently producing 25 MBOEPD, and the company believes its current assets will allow growth to 60 MBOEPD. GeoPark is seeking assets it can develop to 40 MBOEPD. The NOC’s in the region are currently seeking a program of divestitures, presenting an excellent opportunity to reach this goal.

GeoPark presenting at EnerCom Dallas

GeoPark will be presenting its story at the Tower Club Downtown Dallas on Thursday, March 2, as part of EnerCom Dallas, an investor conference which is modeled after EnerCom’s The Oil & Gas Conference® in Denver.

The Dallas conference is designed to offer investment professionals a unique opportunity to listen to a wide variety of oil and gas company senior management teams update investors on their operational and financial strategies and learn how the leading independent energy companies are building value in 2017.

The forum offers healthy dialogue and informal networking opportunities for attendees.

To sign up for EnerCom Dallas and hear GeoPark, or to find out more information about presenting companies and industry experts speaking at EnerCom Dallas, click here to visit the conference website

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