GeoPark Limited (GeoPark), an independent energy company with operations across Latin America, has entered into a definitive agreement with Frontera Energy Corporation (Frontera Energy) to acquire 100% of Frontera Petroleum International Holdings B.V. (Frontera International) which consists exclusively of oil and gas exploration and production assets in Colombia, for a cash purchase price of US$375 million, subject to customary closing adjustments, and an additional payment of US$25 million contingent on the achievement of certain development milestones. The transaction does not include the acquisition of Frontera Energy Corporation (a publicly listed Canadian holding company) nor its infrastructure assets nor its exploration interests in Guyana.
The transaction creates a regional independent E&P platform across Colombia and Argentina, materially enhancing GeoPark’s scale, reserve base, and cash-flow generation, while strengthening its capacity to fund disciplined growth through the cycle.
“Today’s announcement marks an important milestone in GeoPark’s growth trajectory. After extensive discussions with Frontera Energy over the past year, we are pleased to have reached an agreement that adds Frontera’s Colombian assets to our portfolio, positioning GeoPark as the largest private operator in Colombia and creating a stronger and more resilient platform with greater scale, longer production plateaus and improved cash-flow durability, while continuing to fund our growth in Vaca Muerta,” said Felipe Bayon, chief executive officer of GeoPark. “Beyond the financial and production metrics, this transaction enables a full-field development approach in assets such as Quifa and the broader Llanos portfolio, allowing us to extend plateau production, capture synergies, and reinvest efficiently. This will support sustained production, reserves protection, and increased investment activity that benefits the regions where we operate through jobs, royalties and taxes.”
The transaction represents a pivotal step in GeoPark’s long-term strategy to build a stronger and more resilient independent E&P platform in Latin America. By materially increasing scale, reserves, cash-flow generation, and production, the transaction establishes a clear pathway for sustained value creation through disciplined growth, integration and portfolio optimization, including enabling GeoPark to fully unlock the value of its Vaca Muerta assets in Argentina.
The transaction enables a full-field development approach for the acquired assets — particularly the Quifa field and the other Llanos Basin blocks — supporting a higher and more sustained level of drilling, workovers, facilities expansion, and water-management projects.
The resulting zncrease in development activity is expected to translate into higher long-term production, royalties, taxes, and local employment, strengthening the contribution of these assets to Colombia’s energy supply chain and regional economies.
