GeoPark Cancels Its Acquisition of Repsol's Oil & Gas Assets in Colombia

Acquisition Decision - GeoPark Limited has decided not to proceed with the acquisition of oil and gas properties in Colombia from Repsol S.A. due to the exercise of pre-emptive rights by Repsol's partner, SierraCol Energia Arauca LLC [1][2] - The acquisition included a 25% interest in SierraCol Energia Arauca and Repsol's oil and gas extraction operations in central Colombia, which was initially announced in November 2024 [1][2] Pre-emptive Rights - SierraCol Energia Arauca LLC exercised its pre-emptive rights to purchase the 25% stake in the Llanos Norte project located in Colombia's Arauca Department [2] - Additionally, Ecopetrol also exercised its pre-emptive rights to acquire Repsol's 45% working interest in the CPO-9 block in Colombia [2] Company Rankings - GeoPark currently holds a Zacks Rank of 4 (Sell), while Repsol has a Zacks Rank of 3 (Hold) [3] - Other energy sector stocks with better rankings include Sunoco LP with a Zacks Rank of 1 (Strong Buy) and TechnipFMC plc with a Zacks Rank of 2 (Buy) [3] Company Profiles - Sunoco LP is a major distributor of motor fuel in the United States, providing consistent returns to unitholders with a distribution yield greater than the industry's composite stocks [4] - TechnipFMC is a leading manufacturer and supplier of products and services for the energy industry, with a total backlog of $14.7 million in Q3 2024, reflecting an 11.1% increase from the previous year [5]