Geopark (GPRK) Stock News

GeoPark (GPRK) commenced a cash tender offer for its 8.750% Senior Notes due 2030 at $1,027.50 per $1,000 principal plus accrued interest, expiring Oct. 22. The company also plans a new senior notes offering to fund the tender, refinance 2027 notes, and finance Vaca Muerta capex.

Geopark aims to increase production at the Bare Block to about 90,000 barrels per day under its 25-year contract. Reliable diluent supplies are seen as key to expanding output.

Geopark in talks with Venezuela's PDVSA to secure diluent supplies for Orinoco crude blending as it prepares to start operations.

GeoPark (GPRK) received majority noteholder consent to amend its 8.750% Senior Notes due 2030 indenture, adding Jaime Gilinski Bacal and his family as Permitted Holders. The move avoids a Change of Control trigger as Grupo Gilinski increases its stake to ~56.3% via the planned Bare field Venezuela transaction. A consent fee of $2.50 per $1,000 principal will be paid on September 29.