GeoPark Replaces 110% of 2P Reserves, Valued at $1.8 Billion

TL;DR

**GeoPark just announced a 110% 2P reserve replacement and a $1.8 billion after-tax NPV, signaling strong future value!**

AI Summary

GeoPark Limited announced on February 21, 2024, a 2P reserve replacement of 110%, indicating strong growth in its proven and probable oil and gas reserves. The company reported a net present value (after tax) of $1.8 billion for its 2P reserves. Furthermore, the 2P value per share, adjusted for net debt, was stated as $26.0, highlighting significant shareholder value.

Why It Matters

This report indicates GeoPark's successful exploration and development efforts, which are crucial for its long-term production and financial stability in the oil and gas sector.

Risk Assessment

Risk Level: low — The filing reports positive reserve replacement and valuation, indicating a healthy operational outlook for GeoPark.

Key Numbers

• 110% — 2P Reserve Replacement (Indicates growth in proven and probable reserves.)
• $1.8 Billion — Net Present Value (After Tax) (Valuation of 2P reserves.)
• $26.0 — 2P Value per Share (Net Debt-Adjusted) (Shareholder value based on reserves.)

Key Players & Entities

• GeoPark Limited (company) — registrant
• $1.8 billion (dollar_amount) — net present value (after tax) of 2P reserves
• $26.0 (dollar_amount) — 2P value per share (net debt-adjusted)
• February 21, 2024 (date) — date of press release and report

FAQ

Key Financial Figures

• $1.8 Billion — f 110% Net Present Value (After Tax) of $1.8 Billion 2P Value per Share (Net Debt-Adjusted)
• $26.0 — Value per Share (Net Debt-Adjusted) of $26.0” Item 1 FOR IMMEDIATE DISTRIB
• $1.8 BILLION — 110% NET PRESENT VALUE (AFTER TAX) OF $1.8 BILLION 2P VALUE PER SHARE (NET DEBT-ADJUSTED
• $26.0 B — VALUE PER SHARE (NET DEBT-ADJUSTED) OF $26.0 Bogota, Colombia – February 21, 202
• $175 million — ted 2P NPV10 After Tax of approximately $175 million (versus $73 million invested in the 202
• $73 million — x of approximately $175 million (versus $73 million invested in the 2023 exploration drilli
• $1.1 billion — 68.8 mmboe with a 1P NPV10 After Tax of $1.1 billion and 2P reserves of 115.1 mmboe with a 2
• $1.8 billion — 15.1 mmboe with a 2P NPV10 After Tax of $1.8 billion. D&M estimated future development capi
• $126 m — ital required to develop 1P reserves at $126 million, and $310 million to develop 2P r
• $310 million — evelop 1P reserves at $126 million, and $310 million to develop 2P reserves. These amounts a
• $420 — uo;s 2024 expected Adjusted EBITDA 1 of $420-550 million at $80-90/bbl Brent, highli
• $80 — djusted EBITDA 1 of $420-550 million at $80-90/bbl Brent, highlighting the Company&
• $1.8 — al to develop 1P, 2P and 3P reserves of $1.8 per barrel, $2.7 per barrel and $2.8 pe
• $2.7 — 2P and 3P reserves of $1.8 per barrel, $2.7 per barrel and $2.8 per barrel, respect
• $2.8 — of $1.8 per barrel, $2.7 per barrel and $2.8 per barrel, respectively Net Present

Filing Documents

• dp207123_6k.htm (6-K) — 67KB
• logo.jpg (GRAPHIC) — 10KB
• 0000950103-24-002527.txt ( ) — 82KB

Forward-looking statements that appear in a number

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters including NPV10 After Tax, our reserves, the estimated future revenues, capital expenditures, Adjusted EBITDA, free cash flows, expected production guidance and shareholder returns. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking This press release contains a number of oil and gas metrics, including NPV after tax per share, reserve life index, net debt-adjusted NPV per share, etc., which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods. Information about oil and gas reserves: The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proven, probable and possible reserves that meet SEC definitions for such terms. GeoPark uses certain terms in this press release, such as "PRMS Reserves" that SEC guidelines do not permit GeoPark from including in filings with the SEC. As a result, the information in the Company’s SEC filings with respect to reserves will differ significantly from the information in this press release. NPV10 after tax for PRMS 1P, 2P and 3P reserves is not a substitute for the standardized measure of discounted future net cash flows for SEC proved reserves. 5 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the

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View this 6-K filing on SEC EDGAR