Pan Andean Farms-Out Ucayali Basin Blocks to CEPSA

Peru - Ucayali Basin
(Click to Enlarge)

Pan Andean announced that CEPSA of Spain and Perupetrol have finalized the legal agreement whereby CEPSA becomes the Operator of Blocks 114 and 131 in the Ucayali area of Peru. A Supreme Decree has been issued authorizing the transaction.

Under the terms of the agreement, Pan Andean maintains a 30% carried interest in each block with all expenditure funded by CEPSA, up to and including 100%of the first exploration well on each block and 50% of a second well on each block.

CEPSA have paid Pan Andean back costs incurred on the blocks totalling $3 million to date on both blocks.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
Administrative Assistant IV
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
US Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours