{"id":9920,"date":"2014-11-19T22:29:56","date_gmt":"2014-11-19T22:29:56","guid":{"rendered":"https:\/\/www.geo-park.com\/?post_type=press_releases&#038;p=9920"},"modified":"2023-03-16T10:41:15","modified_gmt":"2023-03-16T15:41:15","slug":"geopark-reports-results-for-the-third-quarter-ended-september-30-2014","status":"publish","type":"press_releases","link":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/","title":{"rendered":"GeoPark Reports Results for the Third Quarter Ended September 30, 2014"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>GeoPark Limited (\u201cGeoPark\u201d) (NYSE: \u201cGPRK\u201d), the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina, and Peru today reports results for 3Q2014.<\/p>\n<p>All figures are expressed in US dollars and growth comparisons refer to the same period of the prior year, except when specified.<\/p>\n<p><strong>THIRD QUARTER 2014 HIGHLIGHTS <\/strong><\/p>\n<p><strong>Operational:<\/strong><\/p>\n<ul>\n<li>Total oil and gas production up 66% to 21,548 boepd compared to 3Q2013<\/li>\n<li>Oil production in Colombia up 68% to 11,934 boepd<\/li>\n<li>Reserves up in Tigana oil field in Colombia (GeoPark operated with 45% working interest (\u201cWI\u201d)) to 140-170 mmbo OOIP and 45-65 mmbo of 3P reserves (PRMS gross) by internal estimates<\/li>\n<li>13 new exploration, development and appraisal wells were drilled in Chile and Colombia<\/li>\n<\/ul>\n<p><strong>Financial:<\/strong><\/p>\n<ul>\n<li>Net Revenues up 47% to $131.8 million compared to 3Q2013, driven by increased production<\/li>\n<li>Adjusted EBITDA up 62% to $67.9 million from increased revenue and efficiency gains<\/li>\n<li>Adjusted EBITDA per boe up 3% to $36.0 (in 5% lower oil price environment)<\/li>\n<li>Operating Netback reached $43.5 per boe<\/li>\n<li>Profit up 9% to $11.9 million<\/li>\n<li>Cash position of $128.8 million at the close of 3Q2014<\/li>\n<\/ul>\n<p><strong>Strategic \/ New Business:<\/strong><\/p>\n<ul>\n<li>Entry to Peru (GeoPark\u2019s fifth country platform in Latin America) in October 2014 through the acquisition of the Morona Block (GeoPark will operate with a 75% WI) in a joint venture with Petroperu, the Peruvian state-owned oil and gas company. The Morona Block includes a discovered oil field (55 million 2P PRMS reserves certified by Ryder Scott) and attractive high impact exploration potential (200 to 600 million barrels of exploration resources).<\/li>\n<li>Expansion of Colombian asset portfolio in November 2014 through a farm-in with the SK Group for the CPO-4 Block in Llanos Basin (GeoPark will operate with a 50% WI).<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>James F. Park, GeoPark Chief Executive Officer, said, \u201cAnother strong quarter on our way to a successful year of operational, financial and business growth. GeoPark\u2019s consistent year-to-year growth performance confirms the strength of our long term risk-balanced multi-country strategy in Latin America. It also positions us to continue to prosper even in a declining oil price environment \u2013 with our high netback projects, discretional work programs, strong balance sheet, and self-funding production base of 21,000 boepd. Our exploration and drilling efforts continue to produce results \u2013 most importantly with the Tigana oil field and reserve expansion in Colombia, and Tigana\u2019s conversion into a low risk high potential production growth platform. We are also excited about our entry into Peru with the acquisition of the Morona Block with its high impact discovered Situche Central oil field and big exploration potential \u2013 and which adds further value and depth to GeoPark\u2019s significant organic inventory of development and exploration opportunities over our 31 blocks and 6 million acres.\u201d<\/p>\n<p><a href=\"https:\/\/www.geo-park.com\/wp-content\/uploads\/2023\/02\/Geopark-Reports-Results-for-the-Third-Quarter-Ended-September-30-2014.pdf\" target=\"_blank\" rel=\"noopener\"><b>\u2192 <\/b>Read the full press release.<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>GeoPark Limited (\u201cGeoPark\u201d) (NYSE: \u201cGPRK\u201d), the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina, and Peru today reports results for 3Q2014.<\/p>\n","protected":false},"template":"","press_releases_solution":[],"class_list":["post-9920","press_releases","type-press_releases","status-publish","hentry"],"acf":{"location_p_r":"","lead_p_r":"","external_link":"","gallery_p_r":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark\" \/>\n<meta property=\"og:description\" content=\"GeoPark Limited (\u201cGeoPark\u201d) (NYSE: \u201cGPRK\u201d), the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina, and Peru today reports results for 3Q2014.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/\" \/>\n<meta property=\"og:site_name\" content=\"GeoPark\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-16T15:41:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/11\/Geopark-vigesimo-aniversario-e1667937387584.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"460\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/\",\"url\":\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/\",\"name\":\"GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark\",\"isPartOf\":{\"@id\":\"https:\/\/www.geo-park.com\/es\/#website\"},\"datePublished\":\"2014-11-19T22:29:56+00:00\",\"dateModified\":\"2023-03-16T15:41:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.geo-park.com\/es\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GeoPark Reports Results for the Third Quarter Ended September 30, 2014\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.geo-park.com\/es\/#website\",\"url\":\"https:\/\/www.geo-park.com\/es\/\",\"name\":\"GeoPark\",\"description\":\"oil and gas explorer\",\"publisher\":{\"@id\":\"https:\/\/www.geo-park.com\/es\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.geo-park.com\/es\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.geo-park.com\/es\/#organization\",\"name\":\"GeoPark\",\"url\":\"https:\/\/www.geo-park.com\/es\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.geo-park.com\/es\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/01\/geopark-logo.svg\",\"contentUrl\":\"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/01\/geopark-logo.svg\",\"width\":271,\"height\":40,\"caption\":\"GeoPark\"},\"image\":{\"@id\":\"https:\/\/www.geo-park.com\/es\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/geopark\/\",\"https:\/\/www.youtube.com\/c\/GeoParkOG\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/","og_locale":"es_ES","og_type":"article","og_title":"GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark","og_description":"GeoPark Limited (\u201cGeoPark\u201d) (NYSE: \u201cGPRK\u201d), the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina, and Peru today reports results for 3Q2014.","og_url":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/","og_site_name":"GeoPark","article_modified_time":"2023-03-16T15:41:15+00:00","og_image":[{"width":640,"height":460,"url":"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/11\/Geopark-vigesimo-aniversario-e1667937387584.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Tiempo de lectura":"3 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/","url":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/","name":"GeoPark Reports Results for the Third Quarter Ended September 30, 2014 - GeoPark","isPartOf":{"@id":"https:\/\/www.geo-park.com\/es\/#website"},"datePublished":"2014-11-19T22:29:56+00:00","dateModified":"2023-03-16T15:41:15+00:00","breadcrumb":{"@id":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-reports-results-for-the-third-quarter-ended-september-30-2014\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.geo-park.com\/es\/"},{"@type":"ListItem","position":2,"name":"GeoPark Reports Results for the Third Quarter Ended September 30, 2014"}]},{"@type":"WebSite","@id":"https:\/\/www.geo-park.com\/es\/#website","url":"https:\/\/www.geo-park.com\/es\/","name":"GeoPark","description":"oil and gas explorer","publisher":{"@id":"https:\/\/www.geo-park.com\/es\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.geo-park.com\/es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/www.geo-park.com\/es\/#organization","name":"GeoPark","url":"https:\/\/www.geo-park.com\/es\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.geo-park.com\/es\/#\/schema\/logo\/image\/","url":"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/01\/geopark-logo.svg","contentUrl":"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/01\/geopark-logo.svg","width":271,"height":40,"caption":"GeoPark"},"image":{"@id":"https:\/\/www.geo-park.com\/es\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/geopark\/","https:\/\/www.youtube.com\/c\/GeoParkOG"]}]}},"_links":{"self":[{"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/press_releases\/9920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/types\/press_releases"}],"version-history":[{"count":0,"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/press_releases\/9920\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/media?parent=9920"}],"wp:term":[{"taxonomy":"press_releases_solution","embeddable":true,"href":"https:\/\/www.geo-park.com\/es\/wp-json\/wp\/v2\/press_releases_solution?post=9920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}