1Q20 production is in line with our expectations with 38.6 mbbl/d oil production in Colombia. FY20 production guidance of 43-44 mboe/d (at Brent of US$30/bbl) with capex of US$70-80 mm is reiterated. By mid April, GeoPark held US$163 mm in cash, also in line with our expectations (US$165 mm at the end of March). In addition, the company had US$168 of undrawn facilities and has secured a US$75 mm prepay facility (undrawn), out of which US$50 mm is committed. With (1) a strong balance sheet, (2) 6 ....
21 Apr 2020
Delivering on plan; boosting balance sheet
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Delivering on plan; boosting balance sheet
GeoPark Ltd (0MDP:LON) | 0 0 (-1.2%) | Mkt Cap: 598.8m
- Published:
21 Apr 2020 -
Author:
Stephane Foucaud -
Pages:
5
1Q20 production is in line with our expectations with 38.6 mbbl/d oil production in Colombia. FY20 production guidance of 43-44 mboe/d (at Brent of US$30/bbl) with capex of US$70-80 mm is reiterated. By mid April, GeoPark held US$163 mm in cash, also in line with our expectations (US$165 mm at the end of March). In addition, the company had US$168 of undrawn facilities and has secured a US$75 mm prepay facility (undrawn), out of which US$50 mm is committed. With (1) a strong balance sheet, (2) 6 ....