GeoPark announces divestments of non-core assets in Colombia and Brazil

Geopark, the energy company in Latin America announced the deviation of non-core assets and the implementation of expenditure efficiency initiatives.

The company aims to guide actions and focus on long-term growth through two versations.

It divides its non-core LLANOS 32 block in Colombia and the manat gas field in Brazil for a total of $ 20 million.

The amount of $ 12 million is $ 12 million related to the dismantling or retirement obligations related to the manat gas field.

Together, these assets had an aggregate net 1P PRMS (oil resource management system) with 6.9 million barrels of oil, which consist of 60% oil and 40% natural gas (last year 712 barrels of oil equivalent).

These assets presented about 1,500 EBBITA about 1,500BOPD in this year’s program (profit, taxes, depreciation, depreciation and depreciation) for $ 70-80, BARRES (BBL) Brent.

Last month, the geopard agreed to convey, waiting for regulatory approval, its non-working work on Llan 32 blocks of its joint partners, Parex resources. The total discussion of this transaction is $ 199 without adjusting a capital of $ 3.7 million.

The gooopark has already received the net income from the deal, which until final regulation.

At the end of last month, the geopolk has agreed with its 10% non-performing work interest in Manat’s gas field in Brazil for $ 1 million, as well as the adjustment of the cultivated capital and the possible transformation of natural gas.

According to this transaction, Geopark will also transfer all related obligations, including dismantling liabilities.

Last year, September, 12 million limited contribution to these liabilities was restored in cash and later replaced by a bank guarantee.

The end of the transaction is subject to usual regulatory institutions and is expected for the third quarter of 2025.

The gas field had 1 meter PRMS reserves 1 Mbn reserves, 99% of which are natural gas, at the end of 2024. Net production from the field 2024

Meanwhile, Geopark is looking at the strategic versions of its assets in Ecuador.

Geopark is also actively pursuing the reduction and efficiency measures of targeted costs, which are expected to make annual savings about 5-7 million dollars in operational and general and administrative costs. These initiatives include immediate structural adjustments, including labor cuts, as well as reductions to consultants, contractors and different administrative costs.

Geopark in January this year The acquisition of $ 530 m has been canceled The oil and gas currents above Repsol in Colombia.

The gooopark was signed by contracts for purchasing compulsory shares to buy the assets of Repsol on November 2024.

“Geoopark announces the deviations of non-basic assets in Colombia and Brazil,” he originally created and published. Offshore technologyGlobaldata owned brand.

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