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Track Drilling (Rigs by operator) | Completions (Frac Spreads)

One-Page Deal Sheet

BPZ Sells Interest in Z-1

Pacific Rubiales Energy Corp. Bpz Resources, Inc.
AnnouncedDec 27, 2012
TypeProperty
Announced Date
December 27,2012
Effective Date
January 01,2012
Close Date
December 26,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
150




Snapshot
Asset/Basin:
{"Tumbes Basin (offshore Peru)"}
TargetZones:
{"Zorritos formation
Location
Region
South America

Country
Peru


Transaction Details:  Subscribe to see

BPZ Energy, an independent oil and gas exploration and production company, announced that on December 26, 2012, it closed its contractual arrangements for the sale of a 49% participating interest ("closing") in offshore Block Z-1 to Pacific Rubiales Energy Corp.  The Board of Directors of Perupetro and the Ministry of Energy and Mines have approved the plan to modify the Block Z-1 License Contract allowing PRE to become a party to the amended agreement. Upon receipt of formal approval from the Ministry of Economy and Finance, the Peruvian Government's Supreme Decree will be signed, allowing…

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