Pacific Rubiales Energy Corp. has executed definitive agreements with the International Financial Corporation (IFC), a member of the World Bank Group, the IFC Global Infrastructure Fund ("GIF" managed by the IFC Asset Management Company LLC) and a consortium of investors, whereby it has agreed to sell approximately 43% of its interest in Pacific Midstream Ltd. (Pacific Midstream), which holds certain of the Company's pipeline and power transmission assets, for a total consideration of U.S.$320 million.

The agreements will provide the Company with U.S.$240 million in cash, which will be received by year-end. In addition, Pacific Midstream will receive U.S.$80 million in the first quarter of 2015, plus a commitment for an additional U.S.$60 million in cash to develop future infrastructure projects.

Tags: Pacific Rubiales Energy Corp.