News

February 18, 2010

Buoyed By Production Success In Chile, GeoPark Holdings Eyes Acquisition Opportunities Further Afield

Ahead of its final results, due out in April, GEOPARK Holdings has issued a year-end trading update in which all the important numbers (production, revenues, reserves) show growth and the reductions relate to lower operating costs and faster drilling times.

This is a company that doesn’t do anything fancy but what it does do, it does well: it delivered a 100 per cent strike rate in 2009, increased production by 86 per cent to 6,320 barrels of oil equivalent per day, and cut costs and drilling time per well by almost a third.Investors like what they see: the shares have doubled over the past year and this year breached the 400 pence a share marker to give a market cap of almost £170 million.

GEOPARK, which is quoted on AIM and Santiago’s offshore...