Kirk Lovegrove & Company Advises Carlyle on $825 million Acquisition of Occidental’s Upstream Assets in Colombia

January 2021

Kirk Lovegrove acted as strategic and financial adviser to Carlyle International Energy Partners (CIEP) on the acquisition of the upstream oil & gas business onshore Colombia of Occidental.  The transaction includes operations and working interests in the Llanos Norte, Middle Magdalena and Putumayo Basins. The acquisition price was US$825 million, of which US$700 million paid on completion and the balance by way of contingent payments related to production and commodity prices.  The transaction closed on 18 December 2020.