Overview
- The definitive agreement transfers Frontera Petroleum International Holdings to Geopark, with $375 million paid at closing plus a $25 million contingent milestone.
- Geopark will assume key liabilities, including $310 million of unsecured notes due 2028 and an $80 million Chevron prepayment facility, implying an asset value of about $622 million.
- Frontera expects the transaction to close in the second half of 2026 subject to shareholder and regulatory approvals.
- Following completion, Frontera plans to distribute approximately $370 million to shareholders, pending approval.
- Frontera will retain its ODL and Puerto Bahía infrastructure interests and non-Colombia holdings, which generated about $77 million of distributable cash flow in 2025.