GeoPark acquires LGI interests in Colombia, Chile

Colombia

BOGOTA, November 28, 2018 – Through the acquisition of interests from LG International (LGI), South America-focused E&P player GeoPark has become the 100% owner of its Colombian and Chilean subsidiaries, the company announced in a Tuesday press release.

GeoPark will pay LGI USD 81 million upfront, in addition to two USD 15-million installments in June 2019 and June 2020. In addition, “three contingent payments of USD 5 million each could be payable over the next three years, subject to certain production thresholds being exceeded,” the statement said.

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