As oil prices dropped to close to US$20/bbl, GeoPark has shut down 6.5-7.5 mboe/d of unprofitable production. At US$30/bbl, this production is expected to come back in July. While FY20 production guidance at US$25-30/bbl for Brent has been trimmed by 5-10% to 39 42 mboe/d, this is more than offset by a combination of much lower running costs and a reduced FY20 capex guidance. Overall, the company’s latest guidance suggests a US$25-40 mm improvement in free cash flow in 2020 at these low oil pric ....
15 May 2020
GeoPark Limited (GPRK US): Delivering more with less
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GeoPark Limited (GPRK US): Delivering more with less
GeoPark Ltd (0MDP:LON) | 0 0 (-1.2%) | Mkt Cap: 598.8m
- Published:
15 May 2020 -
Author:
Stephane Foucaud -
Pages:
5
As oil prices dropped to close to US$20/bbl, GeoPark has shut down 6.5-7.5 mboe/d of unprofitable production. At US$30/bbl, this production is expected to come back in July. While FY20 production guidance at US$25-30/bbl for Brent has been trimmed by 5-10% to 39 42 mboe/d, this is more than offset by a combination of much lower running costs and a reduced FY20 capex guidance. Overall, the company’s latest guidance suggests a US$25-40 mm improvement in free cash flow in 2020 at these low oil pric ....