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Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
GeoPark Limited, Valuation and Financial Data 8
GeoPark Limited, Share Price Performance 8
Share Price Performance, Q2, 2015-Q2, 2016 8
GeoPark Limited, Key Valuation Metrics 9
Key Valuation Metrics, Q2, 2015-Q2, 2016 9
GeoPark Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q2, 2015-Q2, 2016 10
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2015-Q2, 2016 11
GeoPark Limited, Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q2, 2015-Q2, 2016 12
GeoPark Limited, Quarterly Production Trends 13
GeoPark Limited, Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q2, 2015-Q2, 2016 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 14
GeoPark Limited, Crude Oil Production 15
Total Crude Oil Production Trend, Q2, 2015-Q2, 2016 15
Crude Oil Production, By Country/Region, Q2, 2015-Q2, 2016 16
GeoPark Limited, Natural Gas Production 17
Total Natural Gas Production Trend, Q2, 2015-Q2, 2016 17
Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 18
GeoPark Limited, Valuation and Financial Data, 2011-2015 19
GeoPark Limited, Share Price Performance, 2011-2015 19
Share Price Performance, 2011-2015 19
Key Valuation Metrics, 2011-2015 20
GeoPark Limited, Production and Reserves Trends 21
Total Oil and Gas, Reserves and Production 21
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 21
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 23
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 25
Crude Oil/Liquids Production and Reserve 26
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 26
Crude Oil Production and Reserves By Country/Region, 2011-2015 27
Crude Oil/Liquids Reserve Changes, 2011-2015 29
Natural Gas Production and Reserve 30
Natural Gas Production and Reserve Trend, 2011-2015 30
Natural Gas Production and Reserves, By Country/Region, 2011-2015 31
Natural Gas Reserve Changes, 2011-2015 33
Total Crude Oil and Natural Gas Reserves Life Index 34
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 35
GeoPark Limited, E&P Costs Trends 37
Allocation of the Upstream Capital Expenditure 37
Upstream Capital Expenditure, 2011-2015 37
Exploration and Development Costs, By Country/Region, 2011-2015 38
Oil and Gas Cost Per boe, US$/boe 40
Oil and Gas Cost Per boe, US$/boe, 2011-2015 40
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 41
GeoPark Limited, Reserve Replacement Ratio 43
Oil and Gas Production Replacement Ratio 43
Oil and Gas Production Replacement Ratio, 2011-2015 43
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 45
GeoPark Limited, Results of Oil & Gas Operations Trend 49
Oil and Gas Revenue and Expenses 49
Oil and Gas Revenue and Expenses, 2011-2015 49
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 50
Oil and Gas Revenue and Expenses, Per boe 56
Oil and Gas Revenue and Expenses, By boe, 2011-2015 56
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 57
Oil and Gas Performance Metrics 62
GeoPark Limited, Land Holdings and Well Data 63
Developed and Undeveloped Acreage 63
Gross and Net Developed and Undeveloped Acreage, 2011-2015 63
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 64
Well Statistics 67
Producible Oil and Gas Well, 2011-2015 67
Producible Oil and Gas Well, By Country/Region, 2011-2015 68
Exploration and Development Wells Drilled, 2011-2015 73
Exploration and Development Wells Drilled, By Country/Region, 2011-2015 74
Recent Developments 75
GeoPark Limited - Recent Developments 75
Nov 23, 2016: GeoPark Announces Further Expansion Of Jacana Oil Field In Colombia Following New Successful Appraisal Drilling 75
Nov 14, 2016: GeoPark Reports Results For The Third Quarter 2016 75
Nov 14, 2016: GeoPark announces work and investment program for 2017 80
Oct 17, 2016: GeoPark Announces Continued Drilling Success In Colombia 81
Oct 11, 2016: GeoPark Announces Third Quarter 2016 Operational Update 82
Aug 22, 2016: GeoPark Announces Successful New Appraisal Drilling And Field Extension Results In The Jacana Oil Field In Colombia 84
Aug 11, 2016: GeoPark Reports Results For The Second Quarter 2016 85
Jul 25, 2016: GeoPark announces successful drilling in Jacana oil field in Colombia 90
Jul 19, 2016: GeoPark Announces Second Quarter 2016 Operational Update 91
Jul 07, 2016: GeoPark completes appraisal drilling in Jacana oil field in Colombia 93
Appendix 94
Methodology 94
Coverage 94
Secondary Research 94
Primary Research 94
Data Information Sources 95
Company Source 95
SEC/Other Regulatory Filings 95
Other Sources 95
Expert Panel Validation 95
Data Definition 95
Oil and Gas Reserves 95
Units of Measure 96
About GlobalData 96
Disclosure 96
Disclaimer 96
List of Tables
Table 1: GeoPark Limited, Key Facts 7
Table 2: GeoPark Limited, Share Price Performance, Q2, 2015-Q2, 2016 8
Table 3: GeoPark Limited, Key Valuation Metrics, Q2, 2015-Q2, 2016 9
Table 4: GeoPark Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 10
Table 5: GeoPark Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2015-Q2, 2016 11
Table 6: GeoPark Limited, Upstream Capital Expenditure, Q2, 2015-Q2, 2016 12
Table 7: GeoPark Limited, Total Crude Oil and Natural Gas, Production, Q2, 2015-Q2, 2016 13
Table 8: GeoPark Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 14
Table 9: GeoPark Limited, Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 15
Table 10: GeoPark Limited, Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 16
Table 11: GeoPark Limited, Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 17
Table 12: GeoPark Limited, Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 18
Table 13: GeoPark Limited, Share Price Performance, 2011-2015 19
Table 14: GeoPark Limited, Key Valuation Metrics, 2011-2015 20
Table 15: GeoPark Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Table 16: GeoPark Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 24
Table 17: GeoPark Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 25
Table 18: GeoPark Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26
Table 19: GeoPark Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 28
Table 20: GeoPark Limited, Crude Oil Reserve Changes, mmbbl, 2011-2015 29
Table 21: GeoPark Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30
Table 22: GeoPark Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 32
Table 23: GeoPark Limited, Natural Gas Reserve Changes, bcf, 2011-2015 33
Table 24: GeoPark Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 34
Table 25: GeoPark Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 36
Table 26: GeoPark Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 37
Table 27: GeoPark Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 39
Table 28: GeoPark Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40
Table 29: GeoPark Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 42
Table 30: GeoPark Limited, Oil and Gas Production Replacement Ratio, %, 2011-2015 44
Table 31: GeoPark Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 48
Table 32: GeoPark Limited, Revenue and Expenses, US$ mil, 2011-2015 49
Table 33: GeoPark Limited, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 54
Table 34: GeoPark Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 56
Table 35: GeoPark Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 61
Table 36: GeoPark Limited, Oil and Gas Performance Metrics, 2011-2015 62
Table 37: GeoPark Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 63
Table 38: GeoPark Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 66
Table 39: GeoPark Limited, Producible Oil and Gas Wells, 2011-2015 67
Table 40: GeoPark Limited, Producible Oil and Gas Wells, By Country/Region, 2011-2015 72
Table 41: GeoPark Limited, Exploratory and Developed Wells, 2011-2015 73
Table 42: GeoPark Limited, Exploratory and Developed Wells, By Country/Region, 2011-2015 74
List of Figures
Figure 1: GeoPark Limited, Share Price Performance, USD/Share, Q2, 2015-Q2, 2016 8
Figure 2: GeoPark Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2015-Q2, 2016 9
Figure 3: GeoPark Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 10
Figure 4: GeoPark Limited, Upstream Capital Expenditure, US$ mil, Q2, 2015-Q2, 2016 12
Figure 5: GeoPark Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2015-Q2, 2016 13
Figure 6: GeoPark Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 14
Figure 7: GeoPark Limited, Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 15
Figure 8: GeoPark Limited, Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 17
Figure 9: GeoPark Limited, Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 18
Figure 10: GeoPark Limited, Share Price Performance, USD/Share, 2011-2015 19
Figure 11: GeoPark Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 20
Figure 12: GeoPark Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 21
Figure 13: GeoPark Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 23
Figure 14: GeoPark Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 23
Figure 15: GeoPark Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 25
Figure 16: GeoPark Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26
Figure 17: GeoPark Limited, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 27
Figure 18: GeoPark Limited, Oil Production, By Country/Region, mmbbl, 2011-2015 27
Figure 19: GeoPark Limited, Crude Oil Reserve Changes, mmbbl, 2015 29
Figure 20: GeoPark Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30
Figure 21: GeoPark Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 31
Figure 22: GeoPark Limited, Gas Production, By Country/Region, bcf, 2011-2015 31
Figure 23: GeoPark Limited, Natural Gas Reserve Changes, bcf, 2015 33
Figure 24: GeoPark Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 34
Figure 25: GeoPark Limited, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35
Figure 26: GeoPark Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35
Figure 27: GeoPark Limited, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 28: GeoPark Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 37
Figure 29: GeoPark Limited, Development Costs, By Country/Region, US$ mil, 2011-2015 38
Figure 30: GeoPark Limited, Exploration Costs, By Country/Region, US$ mil, 2011-2015 38
Figure 31: GeoPark Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40
Figure 32: GeoPark Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 41
Figure 33: GeoPark Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 41
Figure 34: GeoPark Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 42
Figure 35: GeoPark Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 43
Figure 36: GeoPark Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 45
Figure 37: GeoPark Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 45
Figure 38: GeoPark Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 46
Figure 39: GeoPark Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 46
Figure 40: GeoPark Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 47
Figure 41: GeoPark Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 47
Figure 42: GeoPark Limited, Revenue and Expenses, US$ mil, 2011-2015 49
Figure 43: GeoPark Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 50
Figure 44: GeoPark Limited, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 50
Figure 45: GeoPark Limited, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 51
Figure 46: GeoPark Limited, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 51
Figure 47: GeoPark Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 52
Figure 48: GeoPark Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 52
Figure 49: GeoPark Limited, Production Costs, By Country/Region, US$ mil, 2011-2015 53
Figure 50: GeoPark Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53
Figure 51: GeoPark Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 56
Figure 52: GeoPark Limited, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 57
Figure 53: GeoPark Limited, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 57
Figure 54: GeoPark Limited, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 58
Figure 55: GeoPark Limited, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 58
Figure 56: GeoPark Limited, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 59
Figure 57: GeoPark Limited, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 59
Figure 58: GeoPark Limited, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 59: GeoPark Limited, Oil and Gas Performance Metrics, 2011-2015 62
Figure 60: GeoPark Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 63
Figure 61: GeoPark Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 64
Figure 62: GeoPark Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 64
Figure 63: GeoPark Limited, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 65
Figure 64: GeoPark Limited, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 65
Figure 65: GeoPark Limited, Producible Oil and Gas Wells, 2011-2015 67
Figure 66: GeoPark Limited, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 68
Figure 67: GeoPark Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 68
Figure 68: GeoPark Limited, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 69
Figure 69: GeoPark Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 69
Figure 70: GeoPark Limited, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 71: GeoPark Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 72: GeoPark Limited, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 73: GeoPark Limited, Exploratory and Developed Wells, 2011-2015 73