Parex makes $500 million bid for Frontera’s Colombia upstream assets
(WO) - Frontera Vitality mentioned it has acquired a binding provide from Parex Assets to accumulate the corporate’s upstream oil and gasoline belongings in Colombia, figuring out that the proposal constitutes a “superior proposal” to its beforehand introduced settlement to promote the identical belongings to GeoPark. Underneath the Parex provide, the corporate would purchase Frontera’s Colombian exploration and manufacturing enterprise for $500 million in money at closing, plus a possible $25 million contingent...
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