GeoPark Exceeds 2014 Full Year Production Target With 20,557 boepd and Provides 2015 Work Program Approach and Guidance - GeoPark
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GeoPark Limited (“GeoPark”) (NYSE: GPRK), the Latin American oil and gas explorer, operator and consolidator with operations and producing properties in Colombia, Chile, Brazil, Argentina and Peru¹, announces today its 4Q2014 operational update, full year oil and gas production average and 2015 guidance.

GeoPark exceeded its full year 2014 production growth targets of 15-20%, with total average oil and gas production of 20,557 boepd. With the drilling of ten new wells in 4Q2014, the Company also completed its planned 2014 work program with a total of 51 new wells drilled.

GeoPark is strongly positioned at the beginning of 2015 with a cash balance of approximately $130 million, over 20,000 boepd of oil and gas production, a solid reserve and resource base, a long term-maturing debt profile, and a large portfolio of attractive and largely discretional projects – both oil and gas – in multiple countries. This scale and positioning permit GeoPark to protect and preserve its balance sheet and capital during the current oil price downturn by adjusting investment activity and selectively allocating capital to the optimal projects under current conditions.

¹Transaction executed with Petroperu on October 1, 2014 with final closing subject to Peru government approval.

Read the full press release.