Pacific Rubiales Energy Acquiring 49% Interest in Block Z-1 from BPZ Energy - Deal Analysis
Pacific Rubiales Energy Corp (Pacific) agreed to acquire a 49% participating interest in Block Z-1, offshore Peru, from BPZ Energy, Inc. (BPZ) for a purchase consideration of $335m. As a part of the consideration, Pacific will pay $150m in cash and $185m is subject to a commitment of BPZ's share of capital and exploratory expenditures in Block Z-1.
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