Frontera Energy Acquired by Parex Resources | Energy M&A Deal

Parex Resources has completed the acquisition of Frontera Energy, a oilfield services business in Colombia, for US$500 million. Parex Resources acquires Frontera Energy’s upstream exploration and production assets through Frontera E&P, expanding Colombia-focused production capacity and resource base. Frontera Energy acquisition supports Parex Resources acquisitions by adding scale and improving capital efficiency for the company’s independent upstream strategy. The merger acquisition is a strategic acquisition by a public energy operator, with upfront cash plus net debt assumption and a contingent payment, and it follows termination of a prior arrangement with GeoPark.