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News Breaks
April 9, 2014
08:05 EDTGPRKGeoPark announces new oil discovery in Colombia
GeoPark announced the successful drilling and testing of the new Aruco exploration well in the Llanos 34 Block in the central Llanos basin in Colombia. GeoPark operates and has a 45% working interest in the Llanos 34 Block. GeoPark drilled and completed the Aruco 1 well to a total depth of 10,705 feet. A test conducted with an electrical submersible pump in the Guadalupe formation, at approximately 10,075 feet, resulted in a production rate of approximately 1,154 gross barrels of oil per day of 16.8 API, with approximately 4.8% water cut, through a choke of 42/64 inches and well head pressure of 193 pounds per square inch. Further production history will be required to determine stabilized flow rates and the extent of the reservoir.
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August 26, 2014
08:14 EDTGPRKGeoPark says 'on track' to meet FY14 targets
Sees FY14 average annual production growth of 15%-20% compared to annual production average in 2013. Sees FY14 CapEx $220M-$250M, which considers 50-60 new wells, seismic surveys and new facilities. Approximately 40% of capital expenditures will be dedicated to exploration activities and 60% will be dedicated to development activities.
08:02 EDTGPRKGeoPark reports Q2 revenue $131.4M, one estimate $84.70M

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