GeoPark Ltd., Bogota, Colombia, will not complete deal to acquire certain Vaca Muerta asset interests in Argentina as its counterparty to the transaction, Phoenix Global Resources, has withdrawn from the agreement (OGJ Online, May 13, 2024).
Either party had the right to withdraw from the deal following the contractually defined “Outside Date” of May 13, 2025.
In 2024, GeoPark signed deal with Phoenix Global Resources, a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest in four adjacent unconventional blocks in the Neuquén basin (45% in the Mata Mora Norte producing block and Mata Mora Sur exploration block in Neuquén Province, and a 50% interest in Confluencia Norte and Confluencia Sur exploration blocks in Rio Negro Province).
GeoPark said it maintains flexibility “to pursue other strategic opportunities.”