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GeoPark executes offtake and $100 million funding agreement with Trafigura


Published Dec 24, 2015
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GeoPark Limited

GeoPark Limited has executed an offtake and prepayment agreement with Trafigura, commodity trading and logistics companies.

The offtake agreement provides for GeoPark to sell and deliver to Trafigura a portion of GeoPark’s Colombian crude oil production and will benefit GeoPark by (i) improving crude oil sales prices; (ii) improving operating netbacks by reducing transportation costs; (iii) simplifying logistics and reducing risks; and (iv) improving working capital.

Pricing will be determined at future spot market prices, net of transportation costs.

Tags: GeoPark Limited




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