GeoPark Announces Initiation of Quarterly Dividends - GeoPark
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GeoPark Announces Initiation of Quarterly Dividends

November 6, 2019

Bogotá, Colombia – GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced that its Board of Directors declared the initiation of a quarterly cash dividend of $0.0413 per share.

Quarterly Cash Dividend

  • •GeoPark Board of Directors declared the initiation of a quarterly cash dividend of $0.0413 per share to be paid on December 10, 2019, to the shareholders of record at the close of business on November 22, 2019
  •  The quarterly cash dividend complements the existing share buyback program, which as of the date of this release has returned $72.6 million in value during 2019
  • With the announcement of the work program and investment guidelines for 2020, GeoPark plans to deliver another year of production growth, strong operational and financial performance and free cash flow generation while remaining committed to returning value to its shareholders

James F. Park, Chief Executive Officer of GeoPark, said: “Following our long-term, risk-balanced, diversified portfolio business plan, GeoPark has achieved a unique track record of growing production, reserves and net present value for 17 straight years. Everything in our business begins with our on-theground operational performance – and these consistent results have created significant value for our shareholders by making GeoPark the top-performing E&P on the NYSE in 2017 and 2018. To complement this share price increase (up more than 330% since January 2017), we implemented an ambitious share buyback program in late 2018 and throughout 2019. Now, as an additional way to share our superior financial results and free cash flow directly with our shareholders, GeoPark has decided to initiate a quarterly cash dividend payment, effective beginning this quarter. We believe that a company that can consistently execute, invest, grow, and return value back to its shareholders, all funded from its own cashflow, is the right model for our industry today.”

CONFERENCE CALL INFORMATION

GeoPark management will host a conference call on November 7, 2019 at 10:00 am (Eastern Standard Time) to discuss its 3Q2019 financial results and the work program and investment guidelines for 2020. To listen to the call, participants can access the webcast located in the Investor Support section of the Company’s website at www.geo-park.com.

Interested parties may participate in the conference call by dialing the numbers provided below:

United States Participants: 866-547-1509
International Participants: +1 920-663-6208
Passcode: 9391975

Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast. An archive of the webcast replay will be made available in the Investor Support section of the Company’s website at www.geo-park.com after the conclusion of the live call.

→ Read the full press release