- Latin American oil and gas explorer GeoPark ( NYSE: GPRK ) said its Q4 consolidated average oil and gas production was up 7% to 38,433 boepd.
- FY22 average production was at 38,620 boepd, within guidance. The 2022 exit production was 37,700 boepd.
- Additionally, the company said it acquired 2.7M shares (or over 4.5% of shares outstanding) for $36.2M during the year, with 0.9M shares acquired for $13.1M in Q4.
- The company has renewed a discretionary share buyback program. The program will enable the company to buy back up to 10% of shares outstanding until December 2023.
- The company had cash-in-hand of $122M as of Dec. 31, vs. $93M as of Sep. 30.
- For 2023, the company expects production to be in the range of 39,500 boepd to 41,500 boepd.
- Source: Press Release
For further details see:
GeoPark Q4 oil and gas production up 7%