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GeoPark Ups Capex 60%, Expands Colombia Drilling as Prices Improve
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GeoPark Limited announced its operational update for the three month period ended June 30, 2016.
(All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when specified).
Quarterly Highlights: Oil and gas production up 8% to 21,143 boepd Oil production up 7% to 15,530 bopd Gas production up 11% to 33.7 mmcfpd Oil production up 7% to 15,530 bopd Gas production up 11% to 33.7 mmcfpd 2016 Work Program and Investment Plan increased by 60% to $40-$50 million with oil price strengthening and cost efficiency improvements Drilling in Colombia expanded to 6-7 wells Reopening of temporarily shut-in marginal fields following operating cost reductions with potential 900-1,000 bopd net gain in 2H16 Drilling in Colombia expanded to 6-7…- ✓ Full news archive — U.S., Canada & international coverage
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