Frontera E&P Acquired by Parex | Energy M&A Deal

Parex has completed the acquisition of Frontera E&P, a oilfield services business in Colombia, for $500 million. Parex acquisitions expand upstream exposure through the Frontera E&P acquisition of Colombian assets, strengthening its energy M&A portfolio. Frontera E&P operates in exploration and production activities that support Parex’s strategic acquisition strategy in the region. The divestiture acquisition was structured as a strategic acquisition by a strategic buyer, with announced deal value reported around $750 million and equity consideration of $525 million, closing at $500 million.