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July 17, 2014
08:09 EDTGPRKGeoPark reports Q2 production increased 57% to 20,411 BOE/d
GeoPark reported Q2 oil and gas average production up 57% to a record 20,441 boepd vs. 2Q13. The company continues on-track to reach full year production targets. In Q2, a total of 13 new wells were drilled, consisting of seven wells in Chile and six wells in Colombia, of which ten were exploration wells and three were development and appraisal wells. These new wells are part of the total $220M-$250M work and investment program in 2014, which consists of drilling 50-60 wells.
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January 20, 2015
07:05 EDTGPRKGeoPark targets 5% production growth in FY15
GeoPark is positioned at the beginning of 2015 with a cash balance of approximately $130M, 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. Preparing for a period of low oil prices and continuous volatility, the company's 2015 plan is based on an average oil price assumption of $45-50 per barrel. At this base oil price assumption, GeoPark is targeting a fully-funded $60M-$70M work and investment program with flat to 5% production growth over 2014 production levels. If oil prices increase, the company will increase its work and investment program on identified drill-ready projects resulting in increased production growth.
07:04 EDTGPRKGeoPark exceeds FY14 production target with 20,557 boepd
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