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Benzinga
Benzinga
Business
Lekha Gupta

GeoPark Seals $530 Million Colombian Oil & Gas Asset Acquisition Deal With Repsol

Repsol Geopark Colombia Oil GPRK

Geopark Ltd (NYSE:GPRK) shares are trading higher premarket on Friday. The company disclosed that it has signed Sale and Purchase Agreements with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire Repsol’s upstream oil and gas assets in Colombia.

The total consideration for the potential acquisition is approximately $530 million, which will be funded through a mix of cash resources and debt.

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