A PYMNTS Company

South America: Oil company makes leap into Brazilian market

By  |  May 20, 2013

Oil explorer and operator GeoPark Holdings Limited has announced a strategic entrance into the Brazilian market with a 10 percent buyout of the offshore Manati gas field. Manati is the largest natural gas field in the country. GeoPark currently operates in Chile, Colombia and Argentina, and the deal marks its entrance into Brazil with the acquisition that, according to reports, is strategically significant as it is responsible for half of gas for the northeastern region of Brazil, and up to 75 percent of the gas to the country’s largest city of Salvador. According to a press release, the deal will be made for $140 million and adjusted for working capital.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Your Industry News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.