GeoPark wraps up £242m acquisition of Amerisur Resources
GeoPark acquisition of Amerisur Resources : Latin American oil and gas company GeoPark has wrapped up its previously announced £242 million all-cash acquisition of UK-based Amerisur Resources.
The deal, which was announced in November 2019, gives GeoPark 13 production, development and exploration blocks located in Colombia. Included in these are a dozen blocks operated by Amerisur Resources in the Putumayo basin.
Through the acquisition, the Latin American oil and gas company also gains the non-operated CPO-5 block contained in the Llanos Basin, the Oleoducto Binacional Amerisur, an export oil pipeline between Colombia and Ecuador), alongside partnerships with Oxy and ONGC.
Commenting on GeoPark acquisition of Amerisur Resources, James F. Park – CEO of GeoPark, said: “Through this transaction, GeoPark continues delivering on our 17-year vision of creating from scratch, patiently and responsibly, the leading oil and gas independent across Latin America.
“The acquisition of Amerisur brings a wagon full of short, medium and long-term benefits – including light oil production, proven reserves, low breakeven cash flow, low-risk development opportunities, significant exploration resources, new strategic acreage, carried exploration drilling, a cross border pipeline, new industry partnerships and attractive operating and commercial synergies.”