GeoPark Reports Third Quarter 2017 Results - GeoPark
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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 Peru reports its consolidated financial results for the three- month period ended September 30, 2017 (“3Q2017”).

A conference call to discuss 3Q2017 Financial Results will be held on November 16, 2017 at 10:00 am Eastern Standard Time.

All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when specified. Definitions and terms used herein are provided in the Glossary at the end of this document. This release does not contain all of the Company’s financial information. As a result, this release should be read in conjunction with GeoPark’s consolidated financial statements and the notes to those statements for the period ended September 30, 2017, available on the Company’s website.


Operational Results:

Oil and gas production up 28%

  • Consolidated oil and gas production up 28% to 28,325 boepd (up 8% compared to 2Q2017)
  • Current total production of 30,000+ boepd (exceeds year-end exit target)
  • Oil production increased by 37% to 23,237 bopd (up 6% compared to 2Q2017)
  • Colombian oil production increased by 43% to 22,301 bopd (up 6% compared to 2Q2017). Total gross

Colombian production is over 51,000 bopd – making GeoPark the third largest Colombian oil and gas operator

Successful drilling results in Colombia

In Llanos 34 block (GeoPark operated, 45% WI)

  • Tigana Norte 2 appraisal well was drilled to delineate the northeastern boundary of the Tigana/Jacana complex and is currently producing 2,700 bopd
  • Tigana Norte 3 appraisal well recently drilled outside the 3P outline defined in the 2016 D&M reserves certification and approximately 50 feet down dip of the Tigana Norte 1 well and did not encounter the oil- water contact. The well is currently producing 1,700 bopd
  • Tigana Norte 4 appraisal well currently being drilled further down dip of Tigana Norte 3 well to continue delineating the northeastern boundaries of the Tigana/Jacana complex
  • Jacana 10 appraisal well was drilled to test the northern limits of the Jacana oil field and is currently producing 900 bopd
  • Jacana 12 appraisal well was drilled to test the southeastern boundary of Jacana and is currently producing 2,800 bopd
  • Curucucu 1 exploration well was drilled exploring a new fault trend to the east of Tigana/Jacana fault trend and is currently producing 1,100 bopd

Read the full press release.