GeoPark to acquire Colombia, Chile assets from LGI

GeoPark Ltd. has agreed to acquire LG International Corp.’s interest in its Colombian and Chilean operations and subsidiaries, bringing GeoPark’s equity interest in the assets to 100%.

The businesses consist of multiple hydrocarbon blocks and associated oil and gas production and reserves, including the Llanos 34 block (GeoPark operated, 45%) in Colombia (OGJ Online, Sept. 8, 2017).

The acquisition price includes a fixed payment of $81 million at closing, plus two installments of $15 million to be paid in June 2019 and June 2020. Three contingent payments of $5 million each could be payable over the next 3 years, subject to certain production thresholds being exceeded. Closing is expected by Nov. 28.

https://www.ogj.com/articles/2018/11/geopark-to-acquire-colombia-chile-assets-from-lgi.html