GeoPark executes offtake and $100 million funding agreement with Trafigura (Scandinavian Oil-Gas Magazine)

GeoPark executes offtake and $100 million funding agreement with Trafigura

Published Dec 24, 2015

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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GeoPark executes offtake and $100 million funding agreement with Trafigura

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