NG Energy sells 40% operating working interest in Sinú-9 Block to Maurel & Prom

NG Energy International Corp. has completed the sale of a 40% operating working interest in the Sinú-9 Block in Colombia to Etablissements Maurel & Prom S.A. for US$150 million. This transaction provides NG Energy with significant capital while allowing Maurel & Prom to expand its operational footprint in Colombia's oil and gas sector. The deal involves a transfer of operating responsibilities alongside the working interest, suggesting a strategic partnership or a shift in operational focus for NG Energy within the Sinú-9 Block. The sale represents a notable investment in Colombian oil and gas assets, particularly given the involvement of established players like Maurel & Prom. The cash consideration of US$150 million suggests a significant valuation for the Sinú-9 Block and reflects confidence in its potential. This transaction could signal further consolidation or investment activity within the Colombian oil and gas market as companies seek to optimize their portfolios and capitalize on regional opportunities.