GeoPark decides not to increase its offer for Frontera Energy's oil assets in Colombia
With the acquisition, GeoPark becomes the largest private oil and gas company in the country. Photo: GeoPark Courtesy
TL;DR
- GeoPark will not increase its offer for Frontera Energy's Colombian assets.
- The decision was based on maintaining disciplined capital allocation and maximizing long-term shareholder value.
- A higher offer was deemed potentially detrimental to expected returns and company resilience in lower oil price scenarios.
- GeoPark will continue to focus on growing its production in Colombia, particularly in the Llanos 34 block.
- The company also aims to scale its presence in the Vaca Muerta formation in Argentina.
- GeoPark will preserve capital to evaluate other growth opportunities in Latin America.