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8 stories mentioning GPRKUpdated 18d ago

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Commodities

Colombia's GeoPark Acquires Stake in Venezuela's Bare Field

Independent energy producer GeoPark (GPRK) has agreed to enter Venezuela's Orinoco Heavy Oil Belt through a transformational brownfield redevelopment deal for the Bare block, spearheaded by Grupo Gilinski, the company said on Thursday.Led by Grupo Gilinski, the transaction secures a 25-year Production Participation Contract under which GeoPark will act as operator with a 65% net working interest and fund 100% of capital expenditures, it stated.The brownfield asset currently produces about 11,000 bopd from roughly 1,100 wells, with historical cumulative production exceeding 700 million barrels and a peak potential of 85,000 to 95,000 bopd.GeoPark's redevelopment plan aims to raise the field recovery factor from 4-5% to 8-9%, targeting cumulative net production of about 400 million barrels and driving overall company output to 75,000-85,000 boepd by 2030.Financed through equity to protect GeoPark's liquidity profile which stands at about $700 million including $310 million in cash the transaction involves issuing 42.1 million shares to a member entity of Grupo Gilinski at $12.22 per share, according to the statement.Upon completion, Grupo Gilinski will acquire a controlling stake of about 56.3% in GeoPark, it added.

$GPRK
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.5%.The Philadelphia Oil Service Sector Index was falling 1.8%, and the Dow Jones US Utilities Index added 0.9%.In geopolitical news, the US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.Front-month West Texas Intermediate crude oil rose 0.7% to $91.62 a barrel, and the global benchmark Brent crude contract increased 0.1% to $95.71 a barrel. Henry Hub natural gas futures shed 1.3% to $2.92 per 1 million BTU.US natural gas stocks rose by 30 billion cubic feet in the week ended Aug. 28, smaller than the 31 billion gain expected in a survey compiled by Bloomberg and following an increase of 15 billion cubic feet in the previous week.In corporate news, BP (BP) on Thursday sent a letter to the union representing workers at its refinery in Whiting, Indiana, stating that it is willing to re-start negotiations, or work through a federal mediator, to end a BP lock-out that began on March 19. Separately, BP has drawn interest from UK energy firm EnQuest regarding a potential purchase of its UK North Sea oil and gas operations, CNBC reported, citing an interview with EnQuest CEO Amjad Bseisu. BP shares were down 0.7%.Diversified Energy (DEC) has agreed to buy Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares gained 2.3%.Equinor's (EQNR) East Point Energy unit has begun operations at Citrus Flatts, its largest energy storage project in the US, a key step toward building scalable operations in the onshore power industry. Equinor shares were down 2%.GeoPark (GPRK) said it has made a strategic entry into Venezuela via the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt. GeoPark shares rose 1.1%.

$BP$DEC$EQNR$GPRK
Sectors

Sector Update: Energy Stocks Decline Thursday Afternoon

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index down 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) slipping 0.2%.The Philadelphia Oil Service Sector Index was falling 1.6%, and the Dow Jones US Utilities Index added 0.9%.In geopolitical news, the US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.Front-month West Texas Intermediate crude oil rose 0.4% to $91.37 a barrel, and the global benchmark Brent crude contract slid 0.2% to $95.43 a barrel. Henry Hub natural gas futures shed 1.5% to $2.92 per 1 million BTU.US natural gas stocks rose by 30 billion cubic feet in the week ended Aug. 28, smaller than the 31 billion gain expected in a survey compiled by Bloomberg and following an increase of 15 billion cubic feet in the previous week.In corporate news, Diversified Energy (DEC) has agreed to buy Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares gained 3.8%.BP (BP) has drawn interest from UK energy firm EnQuest regarding a potential purchase of its UK North Sea oil and gas operations, CNBC reported, citing an interview with EnQuest CEO Amjad Bseisu. BP shares were down 0.4%.GeoPark (GPRK) said it has made a strategic entry into Venezuela via the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt. GeoPark shares rose 2.5%.

$BP$DEC$GPRK
Sectors

Sector Update: Energy Stocks Rise Pre-Bell Thursday

Energy stocks were rising pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 0.9% higher at $91.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.6% to $96.22 per barrel, and natural gas futures were up 1.3% at $2.99 per 1 million British Thermal Units.Diversified Energy (DEC) has agreed to acquire Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares were up more than 1% premarket.GeoPark (GPRK) has made a strategic entry into Venezuela through the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt, the company said. GeoPark stock was up more than 7% pre-bell.Shell (SHEL) has completed its acquisition of ARC Resources after receiving all required shareholder, court and regulatory approvals, the company said. Shares of Shell were 0.1% lower premarket.

$DEC$GPRK$SHEL$UNG$USO$XLE
Equities

GeoPark Enters Venezuela Through Acquisition of Heavy-Oil Asset

GeoPark (GPRK) has made a strategic entry into Venezuela through the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt, the company said late Wednesday.The block, which holds an estimated 15.7 billion barrels of oil in place and more than 1,100 wells, could help lift the company's total output to 75,000 to 85,000 boepd by 2030, the company said.The deal was structured under a new 25-year production participation contract with state-owned PDVSA, secured through Grupo Gilinski, which will become GeoPark's controlling shareholder.Under the deal, GeoPark will issue 42.1 million shares to Gilinski at a price of $12.22 per share.Upon completion, Grupo Gilinski is expected to hold about 56% of GeoPark, potentially rising to 58% depending on contractual adjustments.

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Commodities

Market Chatter: Global Energy Majors Near Venezuela Energy Agreements

Global oil firms are nearing final energy pacts with Venezuela, most involving a shift to oil contracts under a law giving foreign firms more flexibility to expand and operate oilfields and export barrels and proceeds, while others cover new energy and electricity projects, Reuters reported Monday, citing five sources.Firms involved include Chevron (CVX), GE Vernova (GEV), India's Oil and Natural Gas, Italy-based Eni (E) and Colombia's GeoPark (GPRK). Executives were still closing negotiations, and the list of companies set to sign had not yet been finalized, two of the sources reportedly said. The agreements can be signed as early as this week.Chevron's agreements could be significant, with the company seeking to expand in the Orinoco Belt and to acquire acreage in Monagas North, potentially securing diluent supplies for its extra-heavy oil production, the report said. Eni reportedly said it is working with its Venezuelan partners and relevant authorities to help revive the country's energy sector.Chevron, GE Vernova, ONGC, Eni and Geopark did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CVX$E$GEV$GPRK
Insider Trading

Geopark Insider Sold Shares Worth $1,158,000, According to a Recent SEC Filing

James Franklin Park, Director, on August 10, 2026, sold 120,000 shares in Geopark (GPRK) for $1,158,000. Following the Form 4 filing with the SEC, Park has control over a total of 8,597,251 common shares of the company, with 792,118 shares held directly and 7,805,133 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1464591/000095010326012245/xslF345X05/ownership.xml

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Insider Trading

Geopark Insider Sold Shares Worth $882,900, According to a Recent SEC Filing

James Franklin Park, 10% Owner, Director, on April 20, 2026, sold 100,000 shares in Geopark (GPRK) for $882,900. Following the Form 4 filing with the SEC, Park has control over a total of 8,717,251 common shares of the company, with 912,118 shares held directly and 7,805,133 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1464591/000095010326006040/xslF345X05/ownership.xml

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