Following the operational update on July 15, 2019, GeoPark Limited (GPRK) reported its consolidated financial results for the quarter ended June 30, 2019.
Below, let's review these financial results, hoping to update our investment thesis concerning this Latin American pure-play E&P company.
Price realization
In the 2Q 2019, the benchmark Brent oil prices averaged $68.4/bo, down 8.7% from one year ago (2Q 2018). However, on a consolidated basis, the realized oil price was $55.6/bo, just down 2.8% from $57.2/bo in 2Q 2018. This improvement in oil price realization resulted from, in Colombia, a