KEYFACT Energy
GeoPark announces that Ecopetrol, the operator of the CPO-9 block, has exercised its preemptive rights under the terms of the Joint Operating Agreement to acquire 100% of Repsol Colombia O&G Limited, which owns a 45% non-operated working interest in the CPO-9 Block. As a result, GeoPark is not able to proceed with the acquisition of the CPO-9 block, as outlined in the Company’s previously announced transaction with Repsol on November 29, 2024.
With regards to the acquisition of Repsol’s 25% interest in SierraCol Energy Arauca (“Llanos Norte”) in Arauca Department, at this stage, Repsol’s partners can still exercise their preemptive rights, and the process is still open.
KeyFacts Energy: GeoPark Colombia country profile