
GeoPark Ltd.’s plans to buy Repsol SA’s oil and gas assets in Colombia are off after Repsol’s partners exercised their rights to acquire the assets instead. (Source: Shutterstock, GeoPark)
GeoPark Ltd.’s plans to buy Repsol SA’s oil and gas assets in Colombia are off after Repsol’s partners exercised their rights to acquire the assets instead.
Ecopetrol, Colombia’s largest oil company, exercised its right in December to buy Repsol’s 45% stake in the CPO-9 block in Colombia.
Following in Ecopetrol’s footsteps, an independent producer and Repsol’s partner in SierraCol Energy Arauca LLC exercised its preemptive rights to acquire 25% of Repsol’s interest in SierraCol, GeoPark said Jan. 14.
The acquisition would have incorporated assets in the Llanos Basin, where GeoPark is an established operator. The purchase price was $530 million.
Recommended Reading
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
2025-01-22 - Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.
Huddleston: Haynesville E&P Aethon Ready for LNG, AI and Even an IPO
2025-01-22 - Gordon Huddleston, president and partner of Aethon Energy, talks about well costs in the western Haynesville, prepping for LNG and AI power demand and the company’s readiness for an IPO— if the conditions are right.
Falcon, Tamboran Spud Second Well in Australia’s Beetaloo
2024-11-25 - Falcon Oil & Gas Ltd., with joint venture partner Tamboran, have spud a second well in the Shenandoah South Pilot Project in the Beetaloo.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.