GeoPark Announces Results For the Three-Month Period and Full year Ended December 31, 2013 - 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 is pleased to announce its quarterly and audited annual results for 2013.

All figures are expressed in US dollars. Proforma figures in this release refer to the inclusion in the period of an acquired interest in the Manati Field (Brazil), which was agreed in May 2013 and approved by the ANP in March 2014.



  • Oil and gas production up 20% to 13,517 boepd. Proforma, the annual 2013 production increased to 17,098 boepd
  • 39 new wells drilled with 74% success rate including 7 new oil and gas field discoveries
  •  Approximately 1,350 sqkm of 3D seismic acquired in Chile and Colombia
  • 2P PRMS oil and gas reserves up 8% to 61.6 mmboe, representing a reserve replacement of 199%.Including the reserves added from the Manati Field (Brazil) acquisition, 2P PRMS oil and gas reserves increased by 23% to 70.2 mmboe


  •  Net Revenues up 35% to $338.4 million
  • Adjusted EBITDA up 38% to $167.3 million
  • Adjusted EBITDA per boe up 9% to $33.9 per boe
  • Cash position of $121.1 million at year end
  • Total capital expenditures of $228.0 million
  • Profit for the year up 89% to $34.9 million

Strategic / New Business:

  • Acquisition of 10% interest in Manati Field, largest producing gas field in Brazil, in May 2013 (approved by ANP on March 26, 2014)
  • Nine new hydrocarbon blocks awarded in Rounds 11 and 12 in Brazil in the Sergipe Alagoas, Parnaiba, Potiguar and Reconcavo Basins (two blocks from Round 12 subject to ANP approval)
  • 2020 Bond issued for $300 million in February 2013 to replace existing debt and finance organic and inorganic growth
  • New listing and re-IPO on the New York Stock Exchange in February 2014 (NYSE:GPRK) with approximately $100 million raised to fund new growth

Read the full press release.