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M&A Deal Summary

Gran Tierra Energy Acquires Argosy Energy International

On April 3, 2006, Gran Tierra Energy acquired oil/gas exploration company Argosy Energy International for 41M USD

Acquisition Highlights
  • This is Gran Tierra Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Gran Tierra Energy’s 3rd largest (disclosed) transaction.
  • This is Gran Tierra Energy’s 1st transaction in Colombia.

M&A Deal Summary
Date 2006-04-03
Target Argosy Energy International
Sector Oil/Gas Exploration
Buyer(s) Gran Tierra Energy
Deal Type Add-on Acquisition
Deal Value 41M USD

Target

Argosy Energy International

Colombia
Argosy holds a diverse portfolio of producing properties, drill-ready prospects and exploration acreage in Colombia. Argosy's oil production in 2005 averaged 1,070 barrels per day (net before royalty); remaining proven reserves at December 31 2005 are estimated at 2.80 million barrels with probable reserves of 1.63 million barrels (net before royalty, according to independent estimates). Argosy's net land position is approximately 153,000 acres.

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Buyer(S) 1

Buyer

Gran Tierra Energy

Calgary, Alberta, Canada
Category Company
Founded 2003
Sector Oil/Gas Exploration
Employees431
Revenue 622M USD (2024)
DESCRIPTION

Gran Tierra Energy is an international oil and gas exploration and production company headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. The Company currently holds interests in producing and prospective properties in Colombia, Peru and Brazil. Gran Tierra Energy was incorporated in 2003 and is based in Calgary, Canada.

DEAL STATS #
Overall 1 of 6
Sector: Oil/Gas Exploration M&A 1 of 5
Type: Add-on Acquisition M&A Deals 1 of 4
Country: Colombia M&A 1 of 1
Year: 2006 M&A 1 of 3
Size (of disclosed) 3 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-21 Golden Oil El Vinalar Oil Property

Argentina

Golden Oil Corporation, El Vinalar Oil Property is engaged in oil and natural gas production activities. The property encompasses 1005 square kilometers.

Buy $3M
Mergr

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