GeoPark Announces First Quarter 2014 Operational Update and Production of 20,410 boepd - GeoPark

GeoPark Limited (“GeoPark”) (NYSE: GPRK), the Latin American oil and gas explorer, operator and consolidator with operations and producing properties in Chile, Colombia, Brazil and Argentina, announced today its 1Q2014 operational update.

For the quarter ended March 31, 2014, GeoPark’s oil and gas average production increased to a record of 20,410 boepd, including 3,667 boepd from the Manati field acquisition in Brazil, which closed on March 31, 2014.

In 1Q2014, a total of 15 new wells were drilled, consisting of nine wells in Chile and six wells in Colombia, and seven exploration wells and eight development and appraisal wells. GeoPark acquired 350 sqkm of new 3D seismic in the Isla Norte Block, which completed 100% of the 3D seismic commitment (1,541 sqkm) in Tierra del Fuego, Chile.

James F. Park, CEO of GeoPark, commented: “2014 began at a strong pace and on track with our $220 million-$250 million investment program for the year in Colombia, Chile and Brazil. Our base production showed strong growth and our exploration efforts are showing good results in the Llanos in Colombia and in Tierra del Fuego in Chile. In addition, we completed the acquisition of a 10% interest in the Manati field in Brazil and are initiating exploration activities on our new Brazilian blocks.”

Read the full press release.