GeoPark Ltd., Bogota, Colombia, has named Andres Ocampo chief executive officer, succeeding James F. Park, who served 20 years at the helm of the Latin American oil and gas company.
The plan is effective July 1, at which time Ocampo will also join the company’s board of directors. Park will remain as chief executive officer during the interim period. Beyond the transition period, Park will continue to serve as vice-chair of the board and will remain as an adviser one of the largest shareholders of the company.
As part of this transition, Veronica Davila, GeoPark’s commercial director, will take over as chief financial officer.
Ocampo joined GeoPark in 2010 and has served as the company’s chief financial officer since January 2013.
Davila has served as GeoPark’s commercial director since she joined the company in December 2016. Prior to joining GeoPark, she spent 10 years at Goldman Sachs.
The company plans a self-funded 2022 capital expenditures program of $160-180 million with plans to drill 40-48 gross wells and increase production 5-10% to 35,500-37,500 boe/d—not including production from Argentina and Brazil and any potential production from 15-20 exploration wells being drilled.
In November 2021, GeoPark accepted an offer from Oilstone Energía SA to purchase its 100% working interest in the Aguada Baguales, El Porvenir, and Puesto Touquet blocks for $16 million. Closing occurred Jan. 31, 2022.
In November 2020 GeoPark signed an agreement to sell its 10% non-operated working interest in Petrobras-operated Manati gas-condensate field offshore Brazil in the Camamu basin to Gas Bridge SA for $28 million. The transaction is subject to conditions that should be met before March 31.