Under the agreement, Gran Tierra will make an initial payment of $500 million for PetroLatina - a private, independent exploration and production company with assets primarily in the Middle Magdalena basin of Colombia, with the rest due by the end of the year.
"The acquisition represents a unique material opportunity in Colombia in terms of scale and upside potential, and will add a new core area for Gran Tierra in the prolific Middle Magdalena basin," Gran Tierra's chief executive Gary Guidry said.
"The
