The transaction follows on from the sale of an initial 10% interest in GeoPark’s Chilean business to LGI for $70m, which was completed in May 2011.
LGI is taking a 14% direct interest in GeoPark TdF, the subsidiary of GeoPark Chile which is currently applying with state oil company ENAP for three new hydrocarbon blocks in Tierra del Fuego.
GeoPark and LGI entered into a strategic partnership last year to buy a portfolio of oil and gas upstream assets throughout Latin America.
