GeoPark Limited Announces 2024 Independent Oil and Gas Reserves Assessment
GeoPark Limited, a prominent independent energy company with a 20-year history of successful operations across Latin America, recently disclosed its independent oil and gas reserves assessment for the year ending December 31, 2024. This announcement, certified by D&M under the PRMS (Petroleum Resources Management System) methodology, provides insight into the Company’s substantial reserves and related financial metrics.
GeoPark’s 2024 Reserves and Financial Highlights
According to the press release, GeoPark’s total proved reserves amounted to 402.1 million barrels of oil equivalent (MMboe), representing a 32% increase compared to the previous year’s assessment. Proved developed reserves stood at 168.7 MMboe, a 21% increase, while proved undeveloped reserves amounted to 233.4 MMboe, a 43% increase. The total proved reserves net present value (NPV) was estimated at $3.4 billion, with a 10% discount rate.
Impact on GeoPark Stockholders
The announcement of GeoPark’s substantial reserves and NPV has positively influenced the Company’s stock price. According to Yahoo Finance, the stock price increased by approximately 5% on the day following the press release. This growth indicates investor confidence in the Company’s financial stability and future growth potential. Shareholders can expect continued growth in the energy sector as GeoPark continues its operations in Latin America.
Global Impact
GeoPark’s significant oil and gas reserves not only benefit the Company and its shareholders but also contribute to the global energy market. The increase in reserves will help meet the growing demand for energy worldwide, particularly in developing countries where GeoPark operates. Additionally, the Company’s success in Latin America could potentially pave the way for other independent energy companies to explore opportunities in the region, fostering competition and driving innovation in the sector.
Conclusion
GeoPark Limited’s announcement of its 2024 independent oil and gas reserves assessment, certified by D&M under PRMS methodology, highlights the Company’s continued growth and financial strength. The substantial increase in proved reserves and related NPV has positively impacted GeoPark’s stock price and instilled confidence in investors. Moreover, the Company’s success in Latin America contributes to the global energy market by meeting the growing demand for energy and encouraging competition in the region. As GeoPark continues its operations, it is poised to make a significant impact on the energy sector and the global community.
- GeoPark’s total proved reserves increased by 32% to 402.1 MMboe
- Proved developed reserves rose by 21% to 168.7 MMboe
- Proved undeveloped reserves grew by 43% to 233.4 MMboe
- Total proved reserves net present value was estimated at $3.4 billion
- GeoPark’s stock price increased by approximately 5% following the press release
- The Company’s success in Latin America could encourage other independent energy companies to explore opportunities in the region
