REPORT SPEED/SUSTAINABILITY
We closed 2023 with revenue of US$756.6 million, Adjusted EBITDA of US$451.9 million and net revenue of US$111.1 million, despite lower oil prices than 2022 and lower production after two wells in the CPO-5 Block were shut in for nine months.
Every dollar invested in our assets generated more than 2.3 times Adjusted EBITDA in the same year, testament to our high-quality assets and our capital allocation methodology and cost discipline.
Our portfolio in 2023 included exploration and production assets covering more than 4.7 million hectares in Colombia, Ecuador, Brazil and Chile1.
At December 31, 2023, our asset portfolio included exploitation and/or economic interests in 34 hydrocarbons blocks, of which 33 are onshore, and 10 are in production.
The Success Rate Of Wells Drilled In 2023 Was 73%
1In January 2024, GeoPark completed the divestment of its assets in Chile. 2We use the U.S. Securities and Exchange Commission definitions of dry wells and productive wells as defined in Item 1205 of Regulation S-K. These definitions can be found in the Glossary of this Report.
