GeoPark Cancels Its Acquisition of Repsol's Oil & Gas Assets in Colombia
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GeoPark Limited GPRK, an independent energy firm operating across Latin America, has stated that it shall not proceed with its previously announced acquisition of oil and gas properties in Colombia from the Spanish multi-energy company Repsol S.A. REPYY. This potential acquisition included a 25% interest in SierraCol Energia Arauca and Repsol’s oil and gas extraction operations based in central Colombia. Geopark and Repsol announced this acquisition in November 2024.GeoPark mentioned that it has decided to opt out of the acquisition as Repsol’s partner, SierraCol Energia Arauca LLC had exercised its pre-emptive rights, included in the terms of the LLC agreement, to purchase the 25% stake in the Llanos Norte project located in Colombia’s Arauca Department. The deal also included REPYY’s 45% working interest (WI) in the CPO-9 block in Colombia. Ecopetrol owns the remaining WI in this block. It had exercised its pre-emptive rights to buy the stake in the CPO-9 block in Colombia last month.Zacks Rank and Key PicksGPRK currently carries a Zacks Rank #4 (Sell), while REPYY has a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Sunoco LP SUN and TechnipFMC plc FTI. Sunoco currently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report Repsol SA (REPYY): Free Stock Analysis Report Geopark Ltd (GPRK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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