March 14, 2019 |
Chile's GeoPark said it has entered the Ecuadorean market through the acquisition of two exploration blocks in the the Oriente basin.
The oil and gas company won the Espejo and Perico blocks in a 50-50 partnership with Canada's Frontera Energy, GeoPark said in a press release.
GeoPark and Frontera have pledged to invest $60m in the two blocks over four years. The pair will have a 70% to 78% contractor share at Brent crude oil prices of approximately $60 to $70 per barrel, GeoPark said. The joint
Chilean oil and gas company partners with Canada's Frontera Energy to win two exploration blocks in the Oriente basin