Spudded in July 2012, drilling is ongoing on the 570,452-acre block, located in the Lower Magdalena Valley in northwest Colombia.
Gulf United Energy chairman and chief executive officer John Connally said that the company looks forward to work closely with SK Innovation to exploit the potential of the block in its entirety.
"We are very excited about both expanding our inventory of prospects in Colombia and continuing our partnership with SK," Connally said.
The company said that it has filed a report with the Securities and Exchange Commission over the acquisition.
Texas based Gulf United Energy is an independent energy firm having portfolio of potential large-reserve projects in central Colombia and offshore Peru.
