Brief: Geopark Signs New Offtake Agreement With Vitol For The Llanos 34 Block In Colombia

GeoPark

10/05/2024 01:51

May 9 (Reuters) - GeoPark Ltd  GPRK.N :
    * GEOPARK SIGNS NEW OFFTAKE AGREEMENT WITH VITOL FOR THE
LLANOS 34
BLOCK IN COLOMBIA
    * IMPROVED PRICE REALIZATIONS & UP TO $500 MILLION FUNDING
    * OFFTAKE AGREEMENT PROVIDES FOR GEOPARK TO SELL AND DELIVER
TO
VITOL A MINIMUM OF 20,000 BOPD OF PRODUCTION FROM LLANOS 34
BLOCK
    * OFFTAKE AGREEMENT WILL START ON JULY 1, 2024, FOR A
MINIMUM OF
20 MONTHS AND UP TO 36 MONTHS
    * CO OBTAIN IMMEDIATE ACCESS TO COMMITTED FUNDING FROM VITOL
FOR
UP TO $300 MILLION; OPTION TO INCREASE BY ANOTHER $200 MILLION
FOR TOTAL $500 MILLION

Source text for Eikon:  ID:nBw4xc6M6a 
Further company coverage:  GPRK.N 

 ((Reuters.Briefs@thomsonreuters.com;))