Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/contracts_world/geopark-executes-offtake-and-100-million-funding-a.shtmlGeoPark executes offtake and $100 million funding agreement with Trafigura
GeoPark Limited has executed an offtake and prepayment agreement with Trafigura, commodity trading and logistics companies.
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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.
