Maurel & Prom: NG Energy to buy Colombian assets

(CercleFinance.com) - Maurel & Prom says it has signed a letter of intent with NG Energy, to acquire a 40% operated interest in the Sinu-9 gas license in Colombia, for a consideration of $150 million with an economic effective date of 1 February 2025.


Located in the Lower Magdalena Valley, Sinu-9 went into production in November 2024, and its facilities are in place for production of up to 40 Mcf/d at 100%. Further development will significantly increase production.

Completion of the transaction is subject to negotiation and signature of a definitive agreement between the parties, receipt of regulatory approvals, and satisfaction of other customary conditions.

M&P will have a 12-month option from closing to acquire an additional 5% stake in Sinu-9 on the same terms (consideration of $18.75m, with the same economic effect date of 1 February 2025).


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