Caracara prospect sells for $920m
Hupecol Caracara has sold its operation in the Caracara prospect and related assets in Colombia to an undisclosed company for $920 million.
A 1.594674% interest owned by Houston American Energy was also sold in the deal by Hupecol Caracara.
Houston American said it will receive its proportionate interest in the net sale proceeds after deduction of commissions and transaction expenses.
The company said the proposed sale does not affect its largest working interest exploration properties in Colombia, which are not included in the transaction and will continue to be operated by Hupecol.