Brief: GeoPark Says Acquisition Of Working Interest In Four High Quality Adjacent Blocks

GeoPark

13/05/2024 20:42

May 13 (Reuters) - GeoPark Ltd  GPRK.N :
    * GEOPARK ANNOUNCES ACQUISITION OF WORKING INTEREST IN FOUR
HIGH
QUALITY ADJACENT BLOCKS IN WORLD CLASS VACA MUERTA
    * GEOPARK WILL PAY $190 MILLION FOR A TOTAL OF 122,315 GROSS
ACRES
    * SIGNED AN ASSET PURCHASE AGREEMENT WITH PHOENIX GLOBAL
RESOURCES
    * AGREEMENT FOR ACQUISITION OF NON-OPERATED WORKING INTEREST
IN
FOUR ADJACENT UNCONVENTIONAL BLOCKS IN NEUQUÉN BASIN IN
ARGENTINA
    * IN ADDITION TO UPFRONT CONSIDERATION, GEOPARK WILL FUND
100% OF
EXPLORATORY COMMITMENTS UP TO $113 MILLION GROSS
    * NEW ASSETS WOULD INCREASE GEOPARK'S 2024 PRODUCTION BY AN
ESTIMATED 5,500-6,500 NET BOEPD
    * UPFRONT CONSIDERATION WILL BE FUNDED WITH A MIX OF
AVAILABLE
CASH AND A PARTIAL DRAW OF AN EXISTING OIL PREPAYMENT FACILITY
    * LONGER TERM COMMITMENTS WILL BE FUNDED WITH A COMBINATION
OF
CASH GENERATED BY ASSETS AND FINANCING

Source text for Eikon:  ID:nBwbt1Wcha 
Further company coverage:  GPRK.N 

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