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

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Pacific Rubiales Energy Corp Bids to Buy PetroMagdalena Energy Corp

Pacific Rubiales Energy Corp. Petromagdalena Energy Corp
AnnouncedJun 9, 2012
TypeCorporate
Announced Date
June 09,2012
Close Date
July 27,2012
Transaction Type
Corporate
Enterprise Value (EV)($MM)
244




Snapshot
Location
Region
South America

Country
Colombia


Transaction Details:  Subscribe to see

Pacific Rubiales Energy Corp. (PREC), the producer that operates Colombia’s largest oil field, rose in Bogota after saying it agreed to buy PetroMagdalena Energy Corp. (PMD)

Pacific Rubiales climbed 0.4 percent to 44,800 pesos at the close of trading, after earlier jumping as much as 2.5 percent in the biggest intraday advance since May 22. The benchmark IGBC index fell 0.2 percent. PetroMagdalena’s Canadian-traded shares jumped 26 percent, the most since 2008, to C$1.58. The offer implies a 28 percent premium to PetroMagdalena’s closing price of C$1.25 yesterday.
The company agreed to buy…

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