GeoPark Reports Results for the Second Quarter 2016 - GeoPark
Go Back


Santiago, Chile 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 Peru² reports its consolidated financial results for the three-month period ended June 30, 2016 (“Second Quarter” or “2Q2016”).

A conference call to discuss 2Q2016 results will be held on August 12, 2016 at 10 am Eastern Daylight Time.

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



  • Oil and Gas Production Up 8% to 21,143 boepd
    -Oil production up 7% to 15,530 boepd
    -Gas production up 11% to 33.7 mmcfpd
    -Estimated average 2016 production of 21,500-22,500 boepd


  • Successful Drilling Results and Reserve Growth in Colombia
    -Drilling campaign in the Jacana Oil Field in the Llanos 34 Block (GeoPark operated with 45%

WI) included Jacana 3 and Jacana 4 wells, which were tested and put on production at

approximately 3,600 bopd (gross) in July and extended the field’s western limits
-Jacana 5 appraisal well was drilled further down-dip and is currently being completed. Preliminary petrophysical logging analysis indicates hydrocarbons in the Guadalupe

formation and production testing will be conducted in August
-Plan to drill approximately 5 additional wells in the Llanos 34 Block in 2H2016

  • Operating Costs Down 38%
    -In Colombia Llanos 34 Block, achieved record low operating costs of $3.4 per barrel, down 47%
    -In Chile Fell Block, achieved operating costs of $14.8/boe, down 31% o Consolidated operating costs of $6.2/boe, down 38% and $7 million o Consolidated cash costs of $14.2/boe, down 31%
    -Jacana 4 well drilled and completed for cost of $2.9 million

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