Pacific Rubiales Buys CGX Shares

摘要

Pacific Rubiales -- one of Colombia’s largest independent oil producers -- has agreed to purchase newly issued shares from CGX Energy, thereby acquiring a majority stake in CGX, which focuses on the Guyana-Suriname Basin. Pacific Rubiales said it will invest C$35 million ($34 million) to raise its stake in CGX Energy to 60% from 35%. CGX will use cash raised from the transaction to meet outstanding payment obligations.