05:49 PM EST, 01/14/2025 (MT Newswires) -- GeoPark ( GPRK ) said late Tuesday that the company and Repsol have mutually agreed against proceeding with a November deal under which GeoPark ( GPRK ) had agreed to acquire Repsol's certain upstream oil and gas assets in Colombia.

The decision came after Repsol's partner in SierraCol Energy Arauca exercised its preemptive rights to acquire 25% of Repsol's interest in SierraCol in Arauca Department, Colombia, GeoPark ( GPRK ) said.