Brief: Geopark Announces First Quarter 2023 Operational Update

GeoPark

11/04/2023 13:46

April 11 (Reuters) - GeoPark Ltd  GPRK.N :
    * GEOPARK ANNOUNCES FIRST QUARTER 2023 OPERATIONAL UPDATE
    * GEOPARK LTD - 2023 PRODUCTION GUIDANCE OF 39,500-41,500
BOEPD
(ASSUMING NO PRODUCTION FROM EXPLORATION DRILLING PROGRAM)
    * GEOPARK LTD - SEES SELF-FUNDED 2023 CAPITAL EXPENDITURES
PROGRAM
OF $200-220 MILLION TO DRILL 50-55 GROSS WELLS
    * GEOPARK LTD - AT $80-90 PER BBL BRENT, CO EXPECTS TO
GENERATE AN
ADJUSTED EBITDA OF $510-580 MILLION AND A FREE CASH FLOW OF
$120-140 MILLION IN 2023
    * GEOPARK LTD - TARGETING TO RETURN ABOUT 40-50% OF FREE
CASH FLOW
AFTER TAXES TO SHAREHOLDERS IN 2023
    * GEOPARK LTD -  CONSOLIDATED AVERAGE OIL AND GAS PRODUCTION
DOWN
4% TO 36,578 BOEPD FOR THREE-MONTH PERIOD ENDED MARCH 31, 2023

Source text for Eikon:  ID:nBw6d61hpa 
Further company coverage:  GPRK.N 

 ((Reuters.Briefs@thomsonreuters.com;))