08:41 AM EDT, 03/31/2025 (MT Newswires) -- GeoPark ( GPRK ) said Monday it will divest certain assets and implement cost reduction initiatives.

The energy company said it will divest the non-operated Llanos 32 block in Colombia and Manati gas field in Brazil for about $20 million. GeoPark ( GPRK ) also said it is evaluating strategic options for its assets in Ecuador.

The company said it will implement cost reduction measures including workforce reductions that it expects will deliver $5 million to $7 million in annual savings.

Shares were 0.1% lower in recent premarket activity.