By Adriano Marchese/WSJ

TORONTO
EnergiesNet 12 30 2021

Frontera Energy Corp. said Thursday that it has acquired a 35% working interest in the El Dificil block in Colombia from a subsidiary of Petroquimica Comodoro Rivadavia SA for $13 million.

The Canadian petroleum exploration and production company said it acquired the stake from PCR Investments SA.

The company now owns the block entirely after also acquiring Petroleos Sud Americanos SA, which had a 65% working interest in the block. The acquisition of PetroSud for a total consideration of $40 million closed Thursday, Frontera said.

The El Dificil block combined with PetroSud’s interests in the Entrerrios and Rio Meta blocks is expected to add around 1,800 barrels of oil equivalent a day of total production, the company said.

By Adriano Marchese from The Wal Street Journal – WSJ

wsj.com 12 13 2021