Corporate M&A

GeoPark Completes Acquisition of Amerisur Resources

By Shriya Bhargava
January 16, 2020
a minute read
Bogota Colombian Flag

NYSE-listed Latin American independent GeoPark Ltd. has completed its acquisition of AIM-listed Amerisur Resources Plc. The transaction, which was announced in November 2019, was completed by way of a scheme of arrangement, for a consideration of approximately £242 million at an offer price of 19.21 pence per Amerisur share in cash. Previously, in July 2019, Etablissements Maurel et Prom SA, a Paris-based E&P company controlled by Indonesian national oil company PT Pertamina (Persero), made an unsolicited offer to acquire Amerisur, putting the company ‘in-play.’ Maurel & Prom subsequently withdrew from the bidding process in December. Amerisur operates in Colombia, where it currently holds interests in a dozen oil blocks covering ~2.5 million gross acres in the Putumayo and Llanos Basins, with a primary focus on production and development activities on the Platanillo and CPO-5 Blocks. The acquisition adds 6,865 barrels per day (during September 2019) of net light oil production and 15 million barrels of 1P reserves to GeoPark’s Latin American portfolio, which also includes assets in Argentina, Brazil, Chile, Ecuador and Peru. N M Rothschild & Sons acted as financial advisor to GeoPark, while BMO Capital Markets and Stifel Nicolaus Europe advised Amerisur on the transaction.

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