HOUSTON, March 27, 2012: Porter Hedges represented Hupecol Cuerva Holdings LLC (“Hupecol”) with the sale of its wholly owned subsidiary Hupecol Cuerva LLC, owner of two exploration and production contracts in Colombia. The $75 million sale was to GeoPark Holdings Limited ("GeoPark"), the Latin American oil and gas exploration and production company operating in Chile, Colombia and Argentina and is subject to typical post-closing adjustments and governmental approval.
The assets acquired from Hupecol comprise the La Cuerva and Llanos 62 blocks (approximately 90,000 acres) in the Llanos basin in Colombia. The La Cuerva block is currently producing and exploratory seismic operations have commenced at Llanos 62.
Porter Hedges has previously represented Hupecol LLC in several transactions including the sale of two oil and gas blocks to Madrid based CEPSA and four oil and gas blocks to China’s Sinopec. The deal team was led by energy partner Bob Thomas and energy associate Mac Marshall with assistance from corporate partner Richard L. Wynne, corporate associate Kevin Poli, and tax partner John Ransom.
For additional information, please see GeoPark's press release or refer to the press stories below.
"GeoPark acquires Hupecol assets in Colombia," Oil & Gas Journal (March 28)
"GeoPark furthers Colombian Expansion," Latin Lawyer (March 29)