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M&A / Property

Parex Resources Announces Update on Discussions with GeoPark Regarding a Potential Business Combination

By The Northwire Desk — AI Analysis Dec 09, 2025 · 07:00 PXT · 18.21 PAREX RESOURCES INC.
PXT · Price

Executive Summary

  • Parex Resources Inc. announced it is halting all discussions with GeoPark Limited regarding the proposed acquisition of GeoPark at US$9.00 per share in cash.
  • The decision follows a review of information provided by GeoPark and multiple virtual/in‑person meetings, concluding that there is no basis to increase Parex’s valuation of GeoPark shares relative to its September 2025 proposal.
  • Parex will not pursue any further negotiations with GeoPark under the terms of the original proposal.

Key Details

  • Original Proposal: Parex submitted a cash offer of US$9.00 per GeoPark share on September 4, 2025.
  • Ownership Stake: Parex had previously disclosed an 11.8% ownership position in GeoPark (announced October 29, 2025).
  • Review Timeline:
  • Nov 2‑5, 2025 – Initial engagement and public announcement by GeoPark of a Special Committee.
  • Nov 4‑13, 2025 – Execution of a non‑disclosure agreement (NDA).
  • Nov 14, 2025 – Access granted to GeoPark’s virtual data room.
  • Nov 24, 2025 – GeoPark released an off‑cycle reserves update and held a joint virtual meeting with Parex.
  • Dec 1, 2025 – GeoPark updated guidance for 2026‑2028; in‑person meeting in Bogotá concluded with Parex indicating it would halt talks if no agreement on the September terms could be reached.
  • Dec 5‑8, 2025 – Direct communication established between committee chairs; GeoPark reaffirmed its unwillingness to negotiate under the September proposal, prompting Parex’s formal notice of termination.
  • Decision Rationale: Parex determined a “gap in perceived value” and concluded further discussions were unlikely to result in an agreement consistent with its original offer.
  • Future Outlook: Parex indicated it will not pursue additional negotiations with GeoPark under the current proposal parameters.

Notable Quotes

(No direct quotes provided in the release.)

Read the original news release →

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