GeoPark Limited announced on November 2, 2025, that it will not proceed with its planned $530 million acquisition of Repsol's oil and gas production assets in Colombia. This termination marks a significant change to GeoPark's previously announced strategic expansion plans in the region. The decision follows a series of developments related to the transaction.
The primary reasons for the termination include Ecopetrol's exercise of its preemptive rights under the Joint Operating Agreement to acquire a 45% non-operated working interest in the CPO-9 Block. Additionally, Repsol's partner in SierraCol Energy Arauca LLC exercised its preemptive rights to acquire 25% of Repsol's interest in Llanos Norte. These actions prevented GeoPark from completing the full acquisition as initially planned.
For investors, this cancellation is a very negative development as it removes a major growth catalyst and impacts GeoPark's portfolio diversification strategy in Colombia. The inability to complete the acquisition, despite a binding agreement, highlights the complexities and potential risks associated with large-scale M&A in the energy sector.
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