GeoPark Limited announced on March 31, 2025, the divestment of its non-core, non-operated Llanos 32 Block in Colombia and the Manati gas field in Brazil. These divested assets represented approximately 1,500 boepd in the company's 2025 work plan. This strategic move aims to streamline GeoPark's portfolio and focus on high-impact, high-materiality assets.
Concurrently, GeoPark launched a targeted cost efficiency program designed to generate $5-7 million in annual OPEX and G&A savings. These savings are expected to come from reductions in workforce, consultants, contractors, and other administrative expenses. The program underscores the company's commitment to disciplined capital allocation and operational excellence.
For investors, these actions are important as they demonstrate GeoPark's proactive approach to portfolio optimization and cost management. By enhancing its cost structure and concentrating resources on more strategic assets, the company aims to improve profitability and drive sustainable long-term growth.
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