GeoPark Announces Third Quarter 2016 Operational Update - GeoPark
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Bogota, 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, Chile, Brazil, Argentina, and Peru¹, today announced its operational update for the three-month period ended September 30, 2016 (“Third Quarter” or “3Q2016”).

(All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when specified).

Operational Highlights

Oil and gas production up 15% to 22,070 boepd

– Oil production up 15% to 16,942 bopd
–  Gas production up 13% to 30.8 mmcfpd

• Successful exploration, appraisal and development drilling in Tigana/Jacana oil field trend in Llanos 34 Block (GeoPark operated with 45% WI) in Colombia

–  Jacana 3, 4 and 5 wells drilled, tested and put on production with currently 7,200 bopd gross production, with Jacana 5 appraisal well extending the northwest limits of the field
–  Jacana 6 appraisal well currently being drilled to test southwest extension of the field
–  Completion and testing of Tigana 4 development well currently underway

• Increased drilling program and expected production in 4Q2016

–  2-3 additional wells expected to be drilled in Llanos 34 Block (GeoPark operated with 45% WI) before year end
–  Consolidated exit production targeting increase to approximately 23,500-24,500 boepd at the end of 4Q2016

¹Transaction executed with Petroperu on October 1, 2014 with final closing subject to Peru Government approval. GeoPark and Petroperu recently amended the deadline until March 2017 to obtain regulatory approvals

Read the full press release.